NINE MASTS CAPITAL Ltd Buys New Shares in indie Semiconductor, Inc. (NASDAQ:INDI)

NINE MASTS CAPITAL Ltd purchased a new position in indie Semiconductor, Inc. (NASDAQ:INDI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,841 shares of the company’s stock, valued at approximately $931,000. NINE MASTS CAPITAL Ltd owned approximately 0.08% of indie Semiconductor as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares during the period. Financial Management Professionals Inc. bought a new stake in indie Semiconductor during the first quarter valued at about $53,000. Newbridge Financial Services Group Inc. lifted its position in shares of indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after acquiring an additional 2,000 shares in the last quarter. Quent Capital LLC boosted its stake in shares of indie Semiconductor by 66.7% in the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after acquiring an additional 4,000 shares during the period. Finally, Legato Capital Management LLC purchased a new stake in shares of indie Semiconductor during the second quarter worth about $76,000. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Price Performance

INDI stock opened at $3.42 on Thursday. indie Semiconductor, Inc. has a 52 week low of $3.16 and a 52 week high of $8.69. The firm has a market capitalization of $638.73 million, a P/E ratio of -6.98 and a beta of 1.20. The company has a fifty day simple moving average of $5.06 and a two-hundred day simple moving average of $5.93. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The firm had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $53.61 million. During the same period in the prior year, the company earned ($0.11) EPS. The business’s revenue was up .6% compared to the same quarter last year. Analysts anticipate that indie Semiconductor, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the 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 sale, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Ichiro Aoki sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $6.14, for a total value of $307,000.00. Following the transaction, the president now owns 36,631 shares of the company’s stock, valued at approximately $224,914.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,882 shares of company stock worth $2,117,320. 8.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INDI shares. Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of indie Semiconductor in a report on Tuesday. Roth Mkm lowered their target price on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $10.50.

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.