Emerald Advisers LLC Sells 2,420,134 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Emerald Advisers LLC cut its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 95.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,972 shares of the company's stock after selling 2,420,134 shares during the quarter. Emerald Advisers LLC owned approximately 0.06% of indie Semiconductor worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Primecap Management Co. CA increased its holdings 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 acquiring an additional 7,624,797 shares during the period. Bamco Inc. NY raised its position in shares of indie Semiconductor by 28.0% in the first quarter. Bamco Inc. NY now owns 14,285,896 shares of the company's stock worth $101,144,000 after buying an additional 3,121,255 shares in the last quarter. Vanguard Group Inc. boosted its stake in indie Semiconductor by 3.2% during the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company's stock valued at $75,047,000 after buying an additional 332,500 shares during the period. Harbor Capital Advisors Inc. grew its position in indie Semiconductor by 290.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company's stock worth $12,752,000 after buying an additional 2,377,612 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in indie Semiconductor by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 1,649,907 shares of the company's stock worth $11,681,000 after acquiring an additional 37,236 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Trading Down 3.4 %

INDI traded down $0.12 on Monday, hitting $3.37. 1,619,452 shares of the company were exchanged, compared to its average volume of 2,688,144. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. indie Semiconductor, Inc. has a 12 month low of $3.16 and a 12 month high of $8.69. The firm has a fifty day simple moving average of $3.71 and a two-hundred day simple moving average of $5.18. The stock has a market capitalization of $665.29 million, a PE ratio of -6.61 and a beta of 1.22.

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

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the business's 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 transaction, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on INDI. Benchmark reissued 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 reduced their target price on indie Semiconductor from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on indie Semiconductor from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $10.50.

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.