1492 Capital Management LLC Buys New Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

1492 Capital Management LLC acquired a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 231,537 shares of the company's stock, valued at approximately $938,000. 1492 Capital Management LLC owned about 0.11% of indie Semiconductor at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI raised its holdings in shares of indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock valued at $54,000 after buying an additional 4,023 shares during the last quarter. Regal Investment Advisors LLC increased 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 purchasing an additional 3,988 shares during the period. Virtu Financial LLC acquired a new stake in indie Semiconductor in the third quarter worth about $58,000. Daiwa Securities Group Inc. increased its stake in indie Semiconductor by 74.6% during the 4th 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 period. Finally, Cibc World Markets Corp acquired a new stake in shares of indie Semiconductor in the 4th quarter worth approximately $62,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

INDI has been the topic of several recent analyst reports. Benchmark reissued a "buy" rating and set a $8.00 target price on shares of indie Semiconductor in a report on Wednesday, April 9th. KeyCorp cut their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, UBS Group began coverage on indie Semiconductor in a research report on Friday, January 24th. They set a "neutral" rating and a $4.50 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $7.50.

indie Semiconductor Stock Down 0.8 %

Shares of indie Semiconductor stock traded down $0.02 during trading on Wednesday, hitting $1.84. 1,845,291 shares of the stock traded hands, compared to its average volume of 3,737,975. The company has a fifty day moving average price of $2.49 and a two-hundred day moving average price of $3.58. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $7.82. The stock has a market cap of $370.52 million, a P/E ratio of -2.41 and a beta of 1.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. Equities research analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Donald Mcclymont sold 50,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 65,932 shares of the company's stock, valued at approximately $205,707.84. This represents a 43.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michael Wittmann sold 10,875 shares of the business's stock in a transaction on Monday, March 10th. The stock was 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 approximately $218,862.47. This represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,277 shares of company stock valued at $434,192 over the last 90 days. 8.20% of the stock is currently owned by company insiders.

About indie Semiconductor

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.