Caxton Associates LLP Takes Position in indie Semiconductor, Inc. $INDI

Caxton Associates LLP purchased a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) in the second quarter, HoldingsChannel reports. The institutional investor purchased 249,214 shares of the company’s stock, valued at approximately $887,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fred Alger Management LLC purchased a new position in indie Semiconductor in the 1st quarter worth approximately $2,527,000. Handelsbanken Fonder AB acquired a new position in shares of indie Semiconductor during the second quarter worth $276,000. Geode Capital Management LLC boosted its stake in shares of indie Semiconductor by 9.5% in the second quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock valued at $16,285,000 after purchasing an additional 396,433 shares during the period. Invesco Ltd. grew its holdings in indie Semiconductor by 105.4% during the 1st quarter. Invesco Ltd. now owns 191,717 shares of the company’s stock valued at $390,000 after purchasing an additional 98,389 shares in the last quarter. Finally, Bamco Inc. NY grew its holdings in indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after purchasing an additional 4,813,397 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at indie Semiconductor

In other news, President Ichiro Aoki sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $3.44, for a total transaction of $86,000.00. Following the completion of the sale, the president owned 82,634 shares in the company, valued at $284,260.96. The trade was a 23.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Donald Mcclymont sold 13,065 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $3.54, for a total transaction of $46,250.10. Following the transaction, the chief executive officer owned 148,130 shares in the company, valued at approximately $524,380.20. The trade was a 8.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 898,174 shares of company stock worth $3,919,886. 5.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INDI shares. Roth Capital reissued a “buy” rating and issued a $8.00 price objective on shares of indie Semiconductor in a research report on Wednesday, October 15th. UBS Group boosted their price target on indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.60.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $4.11 on Tuesday. The business has a fifty day moving average of $4.52 and a 200-day moving average of $4.12. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $6.05. The firm has a market cap of $902.68 million, a PE ratio of -5.48 and a beta of 2.60.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). indie Semiconductor had a negative return on equity of 28.84% and a negative net margin of 66.84%.The company had revenue of $53.68 million for the quarter, compared to the consensus estimate of $53.98 million. During the same period in the prior year, the company earned ($0.09) EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal 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.