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

Emerald Advisers LLC decreased its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 54.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,303 shares of the company's stock after selling 149,626 shares during the quarter. Emerald Advisers LLC owned about 0.06% of indie Semiconductor worth $251,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Regal Investment Advisors LLC increased its stake in shares of indie Semiconductor by 39.2% in the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock valued at $57,000 after acquiring an additional 3,988 shares in the last quarter. National Bank of Canada FI increased its stake in shares of indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock valued at $54,000 after acquiring an additional 4,023 shares in the last quarter. Invesco Ltd. increased its stake in shares of indie Semiconductor by 5.5% in the 4th quarter. Invesco Ltd. now owns 93,328 shares of the company's stock valued at $378,000 after acquiring an additional 4,879 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of indie Semiconductor by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 498,931 shares of the company's stock valued at $1,015,000 after acquiring an additional 5,322 shares in the last quarter. Finally, American Trust increased its stake in shares of indie Semiconductor by 20.3% in the 4th quarter. American Trust now owns 34,845 shares of the company's stock valued at $141,000 after acquiring an additional 5,869 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

INDI has been the subject of several research analyst reports. Craig Hallum lowered their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Benchmark reissued a "buy" rating and issued a $8.00 price target (up from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. Finally, KeyCorp cut their price target on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. One equities research 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $6.08.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $2.59, for a total value 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 $263,304.58. This represents a 11.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $3.42, for a total value of $40,496.22. Following the completion of the sale, the director directly owned 119,857 shares of the company's stock, valued at approximately $409,910.94. This represents a 8.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,823 shares of company stock worth $128,088. 5.60% of the stock is owned by company insiders.

indie Semiconductor Price Performance

Shares of INDI traded up $0.45 during midday trading on Thursday, hitting $4.92. 9,890,101 shares of the company traded hands, compared to its average volume of 3,933,990. The stock has a 50-day moving average of $3.20 and a 200-day moving average of $3.09. indie Semiconductor, Inc. has a one year low of $1.53 and a one year high of $7.12. The firm has a market cap of $1.05 billion, a P/E ratio of -6.56 and a beta of 2.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced 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). The firm had revenue of $54.08 million for the quarter, compared to analysts' expectations of $54.94 million. indie Semiconductor had a negative return on equity of 27.25% and a negative net margin of 62.64%. The company's revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. As a group, sell-side analysts predict that indie Semiconductor, Inc. will post -0.54 EPS 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.