Frontier Capital Management Co. LLC Purchases 6,517,978 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Frontier Capital Management Co. LLC increased its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 60.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,374,268 shares of the company's stock after buying an additional 6,517,978 shares during the quarter. Frontier Capital Management Co. LLC owned 8.60% of indie Semiconductor worth $70,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of INDI. Barclays PLC boosted its stake in shares of indie Semiconductor by 330.7% during the 3rd quarter. Barclays PLC now owns 256,799 shares of the company's stock worth $1,026,000 after acquiring an additional 197,179 shares in the last quarter. Elemental Capital Partners LLC bought a new stake in shares of indie Semiconductor during the 4th quarter worth about $14,272,000. Charles Schwab Investment Management Inc. boosted its stake in shares of indie Semiconductor by 8.6% during the 4th 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 in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of indie Semiconductor by 4.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 3,333,220 shares of the company's stock worth $13,500,000 after acquiring an additional 137,310 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of indie Semiconductor by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock worth $50,970,000 after acquiring an additional 942,088 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on INDI shares. KeyCorp decreased their target price on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Benchmark restated a "buy" rating and set a $8.00 target price on shares of indie Semiconductor in a research note on Wednesday, April 9th. B. Riley restated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Finally, UBS Group started coverage on indie Semiconductor in a research note on Friday, January 24th. They set a "neutral" rating and a $4.50 target price for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $6.30.

Insider Buying and Selling at indie Semiconductor

In other news, CEO Donald Mcclymont sold 65,754 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the transaction, the chief executive officer now directly owns 246,535 shares in the company, valued at $714,951.50. This trade represents a 21.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Wittmann sold 13,570 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $39,353.00. Following the completion of the transaction, the chief operating officer now owns 67,012 shares in the company, valued at $194,334.80. This represents a 16.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,277 shares of company stock worth $434,192. Insiders own 8.20% of the company's stock.

indie Semiconductor Price Performance

INDI stock traded up $0.31 during midday trading on Monday, reaching $2.64. 7,131,918 shares of the company's stock traded hands, compared to its average volume of 3,695,181. The company has a 50-day simple moving average of $2.14 and a two-hundred day simple moving average of $3.44. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $7.82. The company has a market cap of $550.42 million, a price-to-earnings ratio of -3.47 and a beta of 2.01. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.09). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. On average, analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

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.