Truvestments Capital LLC Purchases 41,599 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Truvestments Capital LLC increased its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 5,199.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,399 shares of the company’s stock after acquiring an additional 41,599 shares during the period. Truvestments Capital LLC’s holdings in indie Semiconductor were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Granahan Investment Management LLC increased its stake in shares of indie Semiconductor by 63.3% in the 4th quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after purchasing an additional 5,115,393 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of indie Semiconductor by 3.2% in the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after acquiring an additional 332,500 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of indie Semiconductor by 20.7% in the fourth quarter. Primecap Management Co. CA now owns 5,060,480 shares of the company’s stock worth $41,040,000 after acquiring an additional 867,180 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of indie Semiconductor by 40.4% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock valued at $25,453,000 after purchasing an additional 902,530 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC grew its holdings in shares of indie Semiconductor by 132.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock valued at $23,466,000 after purchasing an additional 1,648,818 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Trading Up 2.8 %

NASDAQ INDI traded up $0.17 on Friday, reaching $6.20. The company had a trading volume of 1,313,701 shares, compared to its average volume of 2,120,423. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -12.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.74 and a quick ratio of 1.49. indie Semiconductor, Inc. has a fifty-two week low of $4.67 and a fifty-two week high of $9.51. The business has a 50 day moving average of $6.63 and a two-hundred day moving average of $6.52.

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

Insider Transactions at indie Semiconductor

In other news, CFO Thomas Schiller sold 60,000 shares of the stock in a transaction 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 in the company, valued at $5,904,831.44. The transaction was disclosed in a filing with the SEC, which is available at this link. In other indie Semiconductor news, Director Sonalee Elizabeth Parekh sold 10,000 shares of indie Semiconductor stock in a transaction that occurred on Wednesday, June 12th. The stock was 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 directly owns 75,185 shares in the company, valued at $569,902.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas Schiller sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $5.68, for a total value of $340,800.00. Following the transaction, the chief financial officer now owns 1,039,583 shares in the company, valued at $5,904,831.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 399,912 shares of company stock worth $2,579,839. Company insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

INDI has been the topic of a number of research analyst reports. B. Riley restated a “buy” rating and issued a $13.50 target price (down previously from $14.50) on shares of indie Semiconductor in a research report on Friday, May 10th. KeyCorp reduced their price objective 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 target price on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, May 10th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $12.64.

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.