ProShare Advisors LLC Increases Stock Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

ProShare Advisors LLC raised its stake in indie Semiconductor, Inc. (NASDAQ:INDI) by 49.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,197 shares of the company’s stock after purchasing an additional 15,202 shares during the quarter. ProShare Advisors LLC’s holdings in indie Semiconductor were worth $187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of INDI. Redwood Wealth Management Group LLC purchased a new position in shares of indie Semiconductor in the 4th quarter valued at approximately $215,000. Elemental Capital Partners LLC acquired a new stake in shares of indie Semiconductor in the 4th quarter valued at approximately $14,272,000. Legato Capital Management LLC lifted its holdings in shares of indie Semiconductor by 47.9% in the 4th quarter. Legato Capital Management LLC now owns 20,285 shares of the company’s stock valued at $82,000 after buying an additional 6,570 shares during the period. Rhumbline Advisers lifted its holdings in shares of indie Semiconductor by 1.8% in the 4th quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock valued at $968,000 after buying an additional 4,156 shares during the period. Finally, P.A.W. Capital Corp lifted its holdings in shares of indie Semiconductor by 10.0% in the 4th quarter. P.A.W. Capital Corp now owns 1,100,000 shares of the company’s stock valued at $4,455,000 after buying an additional 100,000 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $2.66 on Monday. The stock has a fifty day moving average price of $2.17 and a 200 day moving average price of $3.30. The stock has a market cap of $565.29 million, a PE ratio of -3.50 and a beta of 2.01. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $7.82. 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) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $54.08 million during the quarter, compared to analysts’ expectations of $54.94 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. indie Semiconductor’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INDI. KeyCorp reduced their price target on indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Craig Hallum reduced their price target on indie Semiconductor from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of indie Semiconductor in a report on Wednesday, May 21st. Finally, B. Riley reissued a “buy” rating on shares of indie Semiconductor in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.75.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 13,570 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the completion of the transaction, the chief operating officer now owns 67,012 shares of the company’s stock, valued at approximately $194,334.80. This trade represents a 16.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Donald Mcclymont sold 65,754 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the transaction, the chief executive officer now directly owns 246,535 shares of the company’s stock, valued at $714,951.50. The trade was a 21.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,277 shares of company stock valued at $278,192. 8.20% of the stock is owned by 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.