Frontier Capital Management Co. LLC Acquires 4,139,349 Shares of indie Semiconductor, Inc. $INDI

Frontier Capital Management Co. LLC grew its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 29.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,960,663 shares of the company’s stock after purchasing an additional 4,139,349 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 8.45% of indie Semiconductor worth $63,940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fred Alger Management LLC purchased a new stake in indie Semiconductor during the first quarter worth about $2,527,000. Handelsbanken Fonder AB purchased a new stake in shares of indie Semiconductor during the 2nd quarter worth approximately $276,000. Geode Capital Management LLC raised its holdings in shares of indie Semiconductor by 9.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock worth $16,285,000 after purchasing an additional 396,433 shares during the period. Invesco Ltd. lifted its stake in indie Semiconductor by 105.4% in the first quarter. Invesco Ltd. now owns 191,717 shares of the company’s stock valued at $390,000 after purchasing an additional 98,389 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in indie Semiconductor by 448.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 86,461 shares of the company’s stock valued at $308,000 after purchasing an additional 70,691 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on INDI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Wednesday, October 8th. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Roth Capital reiterated a “buy” rating and issued a $8.00 target price on shares of indie Semiconductor in a research note on Wednesday, October 15th. Finally, UBS Group boosted their price target on shares of indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.60.

indie Semiconductor Stock Up 0.2%

INDI stock opened at $4.41 on Thursday. The stock has a 50-day simple moving average of $4.52 and a two-hundred day simple moving average of $4.08. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $6.05. The firm has a market capitalization of $968.58 million, a PE ratio of -5.88 and a beta of 2.59. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $53.68 million during the quarter, compared to the consensus estimate of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. indie Semiconductor’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) earnings per share. On average, equities analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity at indie Semiconductor

In related news, CEO Donald Mcclymont sold 13,065 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $3.54, for a total transaction of $46,250.10. Following the completion of the transaction, the chief executive officer directly owned 148,130 shares in the company, valued at $524,380.20. The trade was a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ichiro Aoki sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $3.44, for a total value of $86,000.00. Following the completion of the transaction, the president owned 82,634 shares in the company, valued at $284,260.96. This represents a 23.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,039,088 shares of company stock valued at $4,454,173. Company insiders own 5.60% 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.