Malaga Cove Capital LLC Makes New Investment in indie Semiconductor, Inc. (NASDAQ:INDI)

Key Points

• Malaga Cove Capital LLC has acquired 402,750 shares of indie Semiconductor, Inc. during Q1, valued at approximately $820,000, increasing its ownership to around 0.19% of the company.
• insider sales were reported, with COO Michael Wittmann selling 13,725 shares and Director Sonalee Elizabeth Parekh selling 11,841 shares, indicating a decrease in their holdings.
• indie Semiconductor's stock has recently seen a price objective range set by analysts, with ratings from "hold" to "buy" and a consensus price target of $6.08.

Malaga Cove Capital LLC purchased a new stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 402,750 shares of the company's stock, valued at approximately $820,000. Malaga Cove Capital LLC owned 0.19% of indie Semiconductor at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. National Bank of Canada FI raised its holdings in indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after purchasing an additional 4,023 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in indie Semiconductor during the fourth quarter worth $55,000. Regal Investment Advisors LLC raised its holdings in indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after purchasing an additional 3,988 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in indie Semiconductor during the first quarter worth $31,000. Finally, Walleye Capital LLC acquired a new position in indie Semiconductor during the fourth quarter worth $62,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INDI has been the subject of several research reports. Benchmark reaffirmed a "buy" rating and set a $8.00 price objective (up from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Craig Hallum dropped their price target on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, KeyCorp dropped their price target on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, indie Semiconductor has an average rating of "Moderate Buy" and a consensus target price of $6.08.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $2.59, for a total transaction of $35,547.75. Following the completion of the sale, the chief operating officer owned 101,662 shares of the company's stock, valued at approximately $263,304.58. The trade was a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the sale, the director directly owned 119,857 shares of the company's stock, valued at approximately $409,910.94. This trade represents a 8.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,823 shares of company stock valued at $128,088. 5.60% of the stock is owned by company insiders.

indie Semiconductor Trading Down 4.5%

Shares of NASDAQ:INDI traded down $0.17 during midday trading on Tuesday, reaching $3.64. The company's stock had a trading volume of 4,512,334 shares, compared to its average volume of 4,005,991. The firm has a market cap of $773.54 million, a price-to-earnings ratio of -4.85 and a beta of 2.23. The company has a quick ratio of 4.64, a current ratio of 5.30 and a debt-to-equity ratio of 0.85. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $5.57. The business has a 50 day moving average price of $3.59 and a 200 day moving average price of $3.06.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative return on equity of 27.25% and a negative net margin of 62.64%. The business had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. Research analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

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.