Harbor Capital Advisors Inc. Has $12.75 Million Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Harbor Capital Advisors Inc. increased its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 290.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,195,910 shares of the company's stock after purchasing an additional 2,377,612 shares during the period. Harbor Capital Advisors Inc. owned approximately 1.62% of indie Semiconductor worth $12,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Primecap Management Co. CA increased its position in indie Semiconductor by 93.5% during the 2nd quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company's stock worth $97,357,000 after buying an additional 7,624,797 shares during the period. Bamco Inc. NY raised its stake in indie Semiconductor by 28.0% in the 1st quarter. Bamco Inc. NY now owns 14,285,896 shares of the company's stock worth $101,144,000 after purchasing an additional 3,121,255 shares in the last quarter. Vanguard Group Inc. boosted its holdings in indie Semiconductor by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company's stock valued at $75,047,000 after purchasing an additional 332,500 shares during the period. Clearbridge Investments LLC grew its position in shares of indie Semiconductor by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 1,649,907 shares of the company's stock worth $11,681,000 after purchasing an additional 37,236 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of indie Semiconductor by 26.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,300,540 shares of the company's stock worth $9,208,000 after purchasing an additional 268,776 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the 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 directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.20% of the stock is owned by insiders.

indie Semiconductor Trading Up 5.4 %

INDI traded up $0.18 during trading on Friday, reaching $3.49. 2,577,557 shares of the company's stock were exchanged, compared to its average volume of 2,108,979. The stock has a market capitalization of $688.98 million, a PE ratio of -6.84 and a beta of 1.22. The firm has a fifty day moving average price of $3.72 and a two-hundred day moving average price of $5.20. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31. indie Semiconductor, Inc. has a one year low of $3.16 and a one year high of $8.69.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting 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 firm had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The business's revenue 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 fiscal year.

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.