MYDA Advisors LLC Acquires New Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

MYDA Advisors LLC purchased a new stake in shares of indie Semiconductor, Inc. (NASDAQ:INDIGet Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,000 shares of the company’s stock, valued at approximately $600,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in shares of indie Semiconductor in the fourth quarter worth about $158,000. Qube Research & Technologies Ltd purchased a new position in indie Semiconductor during the 4th quarter valued at about $842,000. Citigroup Inc. increased its holdings in indie Semiconductor by 517.6% during the 4th quarter. Citigroup Inc. now owns 37,695 shares of the company’s stock valued at $452,000 after purchasing an additional 31,592 shares during the period. P.A.W. Capital Corp increased its holdings in indie Semiconductor by 100.0% during the 4th quarter. P.A.W. Capital Corp now owns 400,000 shares of the company’s stock valued at $4,796,000 after purchasing an additional 200,000 shares during the period. Finally, Wolverine Asset Management LLC increased its holdings in indie Semiconductor by 180.2% during the 4th quarter. Wolverine Asset Management LLC now owns 5,693 shares of the company’s stock valued at $68,000 after purchasing an additional 3,661 shares during the period. Institutional investors and hedge funds own 25.04% of the company’s stock.

In other news, CTO Scott David Kee sold 188,912 shares of the company’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $7.89, for a total value of $1,490,515.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steven Machuga sold 95,803 shares of the company’s stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $7.28, for a total transaction of $697,445.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,217 shares of company stock valued at $2,388,542. Company insiders own 20.23% of the company’s stock.

Several analysts have weighed in on INDI shares. Benchmark started coverage on indie Semiconductor in a research report on Friday, May 13th. They set a “buy” rating and a $17.00 price objective on the stock. Zacks Investment Research raised indie Semiconductor from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft cut their price objective on indie Semiconductor from $13.00 to $11.00 in a research report on Friday, May 13th. Finally, B. Riley dropped their price target on indie Semiconductor from $15.00 to $9.00 in a research report on Friday, May 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $13.29.

INDI stock traded down $0.18 during midday trading on Wednesday, hitting $6.89. The company’s stock had a trading volume of 25,814 shares, compared to its average volume of 1,367,003. indie Semiconductor, Inc. has a 12 month low of $5.07 and a 12 month high of $16.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.09 and a current ratio of 7.36. The firm’s 50-day moving average is $7.10 and its 200-day moving average is $9.45.

indie Semiconductor (NASDAQ:INDIGet Rating) last announced its earnings results on Tuesday, February 22nd. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The business had revenue of $18.96 million during the quarter, compared to analyst estimates of $18.24 million. indie Semiconductor had a negative net margin of 140.59% and a negative return on equity of 31.29%. As a group, research analysts forecast that indie Semiconductor, Inc. will post -0.46 earnings per share for the current fiscal year.

About indie Semiconductor (Get Rating)

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.

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Institutional Ownership by Quarter for indie Semiconductor (NASDAQ:INDI)

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