DeepCurrents Investment Group LLC Buys New Shares in indie Semiconductor, Inc. (NASDAQ:INDI)

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

Other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its position in 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 buying an additional 197,179 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of indie Semiconductor during the third quarter valued at approximately $58,000. Harbor Capital Advisors Inc. increased its holdings in shares of indie Semiconductor by 4.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,333,220 shares of the company's stock valued at $13,500,000 after purchasing an additional 137,310 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of indie Semiconductor by 2.3% in the fourth quarter. Moody National Bank Trust Division now owns 650,810 shares of the company's stock valued at $2,636,000 after purchasing an additional 14,500 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in indie Semiconductor during the 4th quarter worth $74,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

INDI has been the subject of several research reports. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. KeyCorp dropped their price objective on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Friday, February 21st. UBS Group initiated coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They issued a "neutral" rating and a $4.50 target price on the stock. Finally, Benchmark reissued a "buy" rating and set a $8.00 price target on shares of indie Semiconductor in a research note on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.50.

Insider Transactions at indie Semiconductor

In other news, COO Michael Wittmann sold 13,570 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $39,353.00. Following the sale, the chief operating officer now directly owns 67,012 shares in the company, valued at $194,334.80. The trade was a 16.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Donald Mcclymont sold 65,754 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the transaction, the chief executive officer now owns 246,535 shares of the company's stock, valued at approximately $714,951.50. The trade was a 21.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,277 shares of company stock valued at $434,192 over the last 90 days. 8.20% of the stock is owned by company insiders.

indie Semiconductor Price Performance

indie Semiconductor stock remained flat at $2.33 during midday trading on Friday. 3,208,899 shares of the company traded hands, compared to its average volume of 3,697,358. The stock has a market capitalization of $485.79 million, a PE ratio of -3.07 and a beta of 2.01. The firm has a 50 day moving average price of $2.14 and a two-hundred day moving average price of $3.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $7.82.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $58.20 million. As a group, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

indie Semiconductor Company Profile

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.