Harbor Capital Advisors Inc. Increases Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Harbor Capital Advisors Inc. grew its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 23.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,102,127 shares of the company's stock after acquiring an additional 768,907 shares during the quarter. Harbor Capital Advisors Inc. owned 2.03% of indie Semiconductor worth $8,348,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Kera Capital Partners Inc. bought a new position in indie Semiconductor in the 1st quarter worth about $31,000. National Bank of Canada FI raised its holdings in indie Semiconductor by 42.7% in the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after buying an additional 4,023 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new position in shares of indie Semiconductor in the fourth quarter worth approximately $55,000. Regal Investment Advisors LLC grew its holdings in shares of indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock valued at $57,000 after buying an additional 3,988 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after buying an additional 6,363 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INDI shares. Craig Hallum lowered their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Benchmark reaffirmed a "buy" rating and set a $6.00 price objective on shares of indie Semiconductor in a research report on Wednesday. Finally, KeyCorp decreased their target price 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.75.

indie Semiconductor Stock Performance

Shares of NASDAQ INDI traded down $0.02 during midday trading on Wednesday, hitting $3.23. 4,456,672 shares of the stock traded hands, compared to its average volume of 3,715,697. The firm has a market capitalization of $686.42 million, a P/E ratio of -4.25 and a beta of 2.12. indie Semiconductor, Inc. has a one year low of $1.53 and a one year high of $7.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The firm has a 50-day moving average of $2.28 and a two-hundred day moving average of $3.23.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.08). The company had revenue of $54.08 million for the quarter, compared to the consensus estimate of $54.94 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. indie Semiconductor's revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share. On average, equities analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total transaction of $35,547.75. Following the transaction, the chief operating officer now owns 101,662 shares in the company, valued at $263,304.58. This trade represents a 11.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.20% of the company's stock.

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.