DeepCurrents Investment Group LLC Acquires Shares of 305,547 indie Semiconductor, Inc. (NASDAQ:INDI)

DeepCurrents Investment Group LLC acquired a new position in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 305,547 shares of the company's stock, valued at approximately $1,237,000. DeepCurrents Investment Group LLC owned about 0.15% of indie Semiconductor at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Barclays PLC boosted its position in shares of indie Semiconductor by 330.7% during the 3rd quarter. Barclays PLC now owns 256,799 shares of the company's stock worth $1,026,000 after acquiring an additional 197,179 shares in the last quarter. Elemental Capital Partners LLC purchased a new position in shares of indie Semiconductor in the 4th quarter valued at $14,272,000. Charles Schwab Investment Management Inc. raised its stake in shares of indie Semiconductor by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company's stock valued at $5,796,000 after purchasing an additional 112,793 shares during the period. Harbor Capital Advisors Inc. grew its holdings in indie Semiconductor by 4.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,333,220 shares of the company's stock worth $13,500,000 after acquiring an additional 137,310 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of indie Semiconductor by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock worth $50,970,000 after purchasing an additional 942,088 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Stock Performance

NASDAQ INDI traded up $0.25 on Monday, reaching $2.58. 3,629,455 shares of the stock were exchanged, compared to its average volume of 3,682,030. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a one year low of $1.53 and a one year high of $7.82. The company's 50-day simple moving average is $2.14 and its two-hundred day simple moving average is $3.44. The firm has a market capitalization of $536.87 million, a PE ratio of -3.38 and a beta of 2.01.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The firm had revenue of $58.01 million during the quarter, compared to analysts' expectations of $58.20 million. Analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other news, COO Michael Wittmann sold 13,570 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $39,353.00. Following the completion of the sale, the chief operating officer now owns 67,012 shares of the company's stock, valued at $194,334.80. This represents a 16.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Donald Mcclymont sold 65,754 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total transaction of $190,686.60. Following the completion of the transaction, the chief executive officer now directly owns 246,535 shares of the company's stock, valued at $714,951.50. This represents a 21.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,277 shares of company stock valued at $434,192. 8.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on INDI. KeyCorp decreased their target price on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Benchmark restated a "buy" rating and set a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday, April 9th. Finally, UBS Group started coverage on indie Semiconductor in a report on Friday, January 24th. They set a "neutral" rating and a $4.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $6.30.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.