Emerald Advisers LLC Reduces Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

Emerald Advisers LLC trimmed its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 54.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,303 shares of the company's stock after selling 149,626 shares during the period. Emerald Advisers LLC owned approximately 0.06% of indie Semiconductor worth $251,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of indie Semiconductor by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company's stock worth $5,796,000 after acquiring an additional 112,793 shares during the period. M&T Bank Corp grew its holdings in shares of indie Semiconductor by 41.5% in the fourth quarter. M&T Bank Corp now owns 28,348 shares of the company's stock valued at $115,000 after acquiring an additional 8,308 shares in the last quarter. Arizona State Retirement System increased its stake in shares of indie Semiconductor by 13.0% during the 4th quarter. Arizona State Retirement System now owns 51,961 shares of the company's stock worth $210,000 after purchasing an additional 5,960 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of indie Semiconductor in the fourth quarter worth about $421,000. Finally, Daiwa Securities Group Inc. lifted its holdings in indie Semiconductor by 74.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock worth $60,000 after purchasing an additional 6,363 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at indie Semiconductor

In other news, Director Sonalee Elizabeth Parekh sold 11,841 shares of indie Semiconductor stock in a transaction dated Monday, June 16th. The stock was 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. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 13,725 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total value of $35,547.75. Following the transaction, the chief operating officer directly 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 disclosure for this sale can be found here. Insiders sold a total of 43,823 shares of company stock valued at $128,088 over the last 90 days. 5.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on INDI shares. Craig Hallum cut their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Benchmark reiterated a "buy" rating and issued a $8.00 price target (up previously from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. KeyCorp lowered their price objective 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. Finally, B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.08.

indie Semiconductor Stock Performance

indie Semiconductor stock traded down $0.01 during trading on Monday, reaching $3.84. The company had a trading volume of 2,249,260 shares, compared to its average volume of 3,912,210. The firm has a market capitalization of $816.05 million, a price-to-earnings ratio of -5.12 and a beta of 2.20. The company has a current ratio of 5.30, a quick ratio of 4.64 and a debt-to-equity ratio of 0.85. The firm's 50-day simple moving average is $3.03 and its 200 day simple moving average is $3.07. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $7.45.

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

indie Semiconductor 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.