Hood River Capital Management LLC Has $21.31 Million Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Hood River Capital Management LLC cut its stake in indie Semiconductor, Inc. (NASDAQ:INDI) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,454,324 shares of the company’s stock after selling 149,380 shares during the quarter. Hood River Capital Management LLC owned approximately 1.85% of indie Semiconductor worth $21,313,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INDI. GAMMA Investing LLC raised its holdings in indie Semiconductor by 1,743.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after acquiring an additional 3,906 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of indie Semiconductor in the first quarter valued at approximately $53,000. Newbridge Financial Services Group Inc. increased its stake in shares of indie Semiconductor by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after purchasing an additional 2,000 shares during the period. Quent Capital LLC lifted its holdings in indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Legato Capital Management LLC bought a new stake in indie Semiconductor in the 2nd quarter valued at $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Down 5.5 %

Shares of NASDAQ INDI opened at $3.63 on Monday. The stock has a market capitalization of $677.95 million, a P/E ratio of -7.41 and a beta of 1.20. The stock’s fifty day moving average is $4.70 and its 200 day moving average is $5.80. indie Semiconductor, Inc. has a 52 week low of $3.16 and a 52 week high of $8.69. 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 (NASDAQ:INDI) last released its earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $52.40 million for 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 business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction on 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 $3,742,645.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 80,260 shares of company stock valued at $311,514 over the last three months. 8.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.