Light Street Capital Management LLC Boosts Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Light Street Capital Management LLC raised its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,338,469 shares of the company's stock after purchasing an additional 545,344 shares during the period. indie Semiconductor accounts for about 1.7% of Light Street Capital Management LLC's holdings, making the stock its 20th biggest position. Light Street Capital Management LLC owned 1.16% of indie Semiconductor worth $9,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of indie Semiconductor by 330.7% in the 3rd quarter. Barclays PLC now owns 256,799 shares of the company's stock valued at $1,026,000 after buying an additional 197,179 shares during the last quarter. Elemental Capital Partners LLC acquired a new position in indie Semiconductor in the fourth quarter valued at $14,272,000. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $5,796,000 after acquiring an additional 112,793 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 942,088 shares during the last quarter. Finally, Register Financial Advisors LLC increased its position in shares of indie Semiconductor by 60.4% during the fourth quarter. Register Financial Advisors LLC now owns 337,028 shares of the company's stock worth $1,365,000 after purchasing an additional 126,888 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

indie Semiconductor Stock Performance

Shares of INDI stock traded up $0.04 during midday trading on Thursday, hitting $2.78. The company had a trading volume of 3,492,181 shares, compared to its average volume of 3,710,411. The stock has a market cap of $579.61 million, a price-to-earnings ratio of -3.66 and a beta of 2.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The company's 50 day simple moving average is $2.12 and its 200 day simple moving average is $3.42. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $7.82.

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

Insider Transactions at indie Semiconductor

In other news, COO Michael Wittmann sold 10,875 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the transaction, the chief operating officer now directly owns 77,887 shares of the company's stock, valued at $218,862.47. This represents a 12.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $3.12, for a total transaction of $156,000.00. Following the completion of the transaction, the chief executive officer now owns 65,932 shares of the company's stock, valued at $205,707.84. This represents a 43.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,277 shares of company stock worth $434,192 over the last ninety days. 8.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INDI has been the subject of a number of research analyst reports. Craig Hallum decreased their target price on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. KeyCorp lowered their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday. Benchmark cut their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, UBS Group began coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They issued a "neutral" rating and a $4.50 price target for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $5.75.

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.