Financial Management Professionals Inc. Makes New Investment in indie Semiconductor, Inc. (NASDAQ:INDI)

Financial Management Professionals Inc. bought a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,449 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in indie Semiconductor by 269.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock worth $50,000 after buying an additional 4,470 shares during the last quarter. Newbridge Financial Services Group Inc. grew 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 purchasing an additional 2,000 shares during the last quarter. Psagot Value Holdings Ltd. Israel grew its position in shares of indie Semiconductor by 24.2% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock valued at $69,000 after purchasing an additional 1,610 shares during the last quarter. Olympiad Research LP acquired a new stake in shares of indie Semiconductor in the fourth quarter valued at about $82,000. Finally, Daiwa Securities Group Inc. grew its position in shares of indie Semiconductor by 29.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 11,133 shares of the company’s stock valued at $90,000 after purchasing an additional 2,558 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $6.17 on Friday. indie Semiconductor, Inc. has a 1 year low of $4.67 and a 1 year high of $9.85. The firm has a 50 day moving average of $6.37 and a 200-day moving average of $6.75. The company has a current ratio of 1.74, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The firm had revenue of $52.35 million during the quarter, compared to the consensus estimate of $56.30 million. Equities research analysts expect that indie Semiconductor, Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sonalee Elizabeth Parekh sold 10,000 shares of indie Semiconductor stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total value of $75,800.00. Following the completion of the transaction, the director now owns 75,185 shares in the company, valued at $569,902.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total value of $75,800.00. Following the completion of the sale, the director now owns 75,185 shares of the company’s stock, valued at $569,902.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas Schiller sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $5.68, for a total transaction of $340,800.00. Following the completion of the sale, the chief financial officer now directly owns 1,039,583 shares of the company’s stock, valued at approximately $5,904,831.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 400,015 shares of company stock worth $2,578,749. Insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INDI. B. Riley reaffirmed a “buy” rating and issued a $13.50 price target (down from $14.50) on shares of indie Semiconductor in a research report on Friday, May 10th. KeyCorp lowered their price target on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, indie Semiconductor presently has an average rating of “Buy” and a consensus target price of $12.64.

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.