Royce & Associates LP Has $2.41 Million Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Royce & Associates LP grew its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 92.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,185,020 shares of the company's stock after buying an additional 570,020 shares during the period. Royce & Associates LP owned approximately 0.57% of indie Semiconductor worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INDI. Frontier Capital Management Co. LLC boosted its holdings in indie Semiconductor by 60.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock worth $70,366,000 after buying an additional 6,517,978 shares during the last quarter. Bamco Inc. NY boosted its holdings in indie Semiconductor by 30.6% during the fourth quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock worth $80,602,000 after buying an additional 4,661,220 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in indie Semiconductor during the fourth quarter worth about $6,040,000. Aristeia Capital L.L.C. bought a new position in indie Semiconductor during the fourth quarter worth about $4,135,000. Finally, Vanguard Group Inc. boosted its holdings in indie Semiconductor by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock worth $50,970,000 after buying an additional 942,088 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Craig Hallum reduced their target price on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. B. Riley restated a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. KeyCorp cut their price objective on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Benchmark reiterated a "buy" rating and set a $8.00 price objective (up previously from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $6.08.

indie Semiconductor Trading Down 2.1%

NASDAQ:INDI opened at $4.18 on Monday. indie Semiconductor, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $6.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64. The stock has a market capitalization of $888.29 million, a PE ratio of -5.57 and a beta of 2.20. The business's 50-day simple moving average is $3.41 and its 200-day simple moving average is $3.07.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The business 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%. indie Semiconductor's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) EPS. Sell-side analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of the business'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 sale, the chief operating officer owned 101,662 shares in the company, valued at approximately $263,304.58. The trade was a 11.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the completion of the sale, the director owned 119,857 shares in the company, valued at $409,910.94. The trade was a 8.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,823 shares of company stock worth $128,088 in the last 90 days. Company insiders own 5.60% of the company's stock.

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.

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