Harbor Capital Advisors Inc. Buys 2,377,612 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Harbor Capital Advisors Inc. increased its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 290.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,195,910 shares of the company’s stock after acquiring an additional 2,377,612 shares during the quarter. Harbor Capital Advisors Inc. owned about 1.62% of indie Semiconductor worth $12,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tempus Wealth Planning LLC lifted its stake in indie Semiconductor by 61.6% in the 3rd quarter. Tempus Wealth Planning LLC now owns 36,121 shares of the company’s stock valued at $144,000 after acquiring an additional 13,768 shares in the last quarter. Creative Planning bought a new stake in shares of indie Semiconductor during the 3rd quarter worth approximately $75,000. Artemis Investment Management LLP bought a new stake in shares of indie Semiconductor during the 3rd quarter worth approximately $4,478,000. American Trust bought a new stake in shares of indie Semiconductor during the 2nd quarter worth approximately $139,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of indie Semiconductor during the 2nd quarter worth approximately $105,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.20% of the stock is owned by company insiders.

indie Semiconductor Stock Up 5.4 %

INDI opened at $3.49 on Friday. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two 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. The company has a market capitalization of $689.00 million, a P/E ratio of -6.84 and a beta of 1.22. The stock has a fifty day moving average of $3.72 and a 200-day moving average of $5.20.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The company had revenue of $52.40 million during the quarter, compared to the consensus estimate of $53.61 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts expect that indie Semiconductor, Inc. will post -0.7 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on INDI shares. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of indie Semiconductor in a report on Tuesday, September 10th. Roth Mkm cut their price target on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus 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.