Marshall Wace LLP Acquires 139,723 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Marshall Wace LLP raised its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 510.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 167,100 shares of the company's stock after buying an additional 139,723 shares during the period. Marshall Wace LLP owned about 0.09% of indie Semiconductor worth $1,031,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Xponance Inc. purchased a new position in shares of indie Semiconductor during the second quarter valued at approximately $63,000. Sei Investments Co. grew its holdings in shares of indie Semiconductor by 72.3% during the second quarter. Sei Investments Co. now owns 215,128 shares of the company's stock worth $1,327,000 after purchasing an additional 90,266 shares in the last quarter. Mutual of America Capital Management LLC grew its position in indie Semiconductor by 14.8% in the second quarter. Mutual of America Capital Management LLC now owns 486,252 shares of the company's stock worth $3,000,000 after acquiring an additional 62,770 shares in the last quarter. Primecap Management Co. CA increased its position in shares of indie Semiconductor by 93.5% during the 2nd quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company's stock valued at $97,357,000 after purchasing an additional 7,624,797 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of indie Semiconductor by 61.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,127,024 shares of the company's stock valued at $6,954,000 after purchasing an additional 427,372 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Roth Mkm reduced their price target on indie Semiconductor from $10.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on indie Semiconductor from $9.00 to $7.00 and set a "buy" rating for the company in a report on Friday, August 9th. Finally, Benchmark reissued a "buy" rating and set a $12.00 price target on shares of indie Semiconductor in a report on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $10.50.

Insider Buying and Selling at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI traded down $0.09 during trading on Tuesday, reaching $3.74. 1,029,857 shares of the company's stock traded hands, compared to its average volume of 2,759,410. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31. The company has a 50-day simple moving average of $4.11 and a 200-day simple moving average of $5.59. The firm has a market cap of $698.49 million, a PE ratio of -7.76 and a beta of 1.20. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.69.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The company had revenue of $52.40 million during the quarter, compared to analyst estimates of $53.61 million. During the same quarter last year, the firm posted ($0.11) earnings per share. indie Semiconductor's revenue was up .6% compared to the same quarter last year. As a group, analysts predict that indie Semiconductor, Inc. will post -0.7 earnings per share for the current year.

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.