Artemis Investment Management LLP Makes New Investment in indie Semiconductor, Inc. (NASDAQ:INDI)

Artemis Investment Management LLP bought a new stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 1,122,398 shares of the company's stock, valued at approximately $4,478,000. Artemis Investment Management LLP owned approximately 0.60% of indie Semiconductor at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of INDI. GAMMA Investing LLC lifted its position in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company's stock worth $25,000 after purchasing an additional 3,906 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in indie Semiconductor in the first quarter valued at $53,000. Newbridge Financial Services Group Inc. grew its holdings in shares of indie Semiconductor by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company's stock worth $56,000 after purchasing an additional 2,000 shares during the last quarter. Xponance Inc. acquired a new stake in shares of indie Semiconductor during the second quarter worth about $63,000. Finally, Quent Capital LLC boosted its position in shares of indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company's stock valued at $71,000 after purchasing an additional 4,000 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Stock Performance

NASDAQ INDI traded down $0.04 during trading hours on Thursday, hitting $3.67. 951,746 shares of the stock were exchanged, compared to its average volume of 2,740,461. 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 market cap of $724.53 million, a price-to-earnings ratio of -7.45 and a beta of 1.20. indie Semiconductor, Inc. has a 12-month low of $3.16 and a 12-month high of $8.69. The stock has a 50-day moving average of $4.02 and a 200 day moving average of $5.56.

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

Insider Activity

In other news, CFO Thomas Schiller sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares of the company's stock, valued at $3,742,645.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INDI. 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 research note on Friday, August 9th. Roth Mkm reduced their target price on shares of indie Semiconductor from $10.00 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $10.50.

indie Semiconductor 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.