Comerica Bank Increases Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Comerica Bank grew its position in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 109.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,590,243 shares of the company's stock after purchasing an additional 830,232 shares during the quarter. Comerica Bank owned approximately 0.79% of indie Semiconductor worth $6,440,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. National Bank of Canada FI grew its holdings in shares of indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after purchasing an additional 4,023 shares during the last quarter. Regal Investment Advisors LLC grew its stake in indie Semiconductor by 39.2% during the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after buying an additional 3,988 shares during the last quarter. Virtu Financial LLC acquired a new position in indie Semiconductor during the third quarter worth approximately $58,000. Daiwa Securities Group Inc. lifted its stake in indie Semiconductor by 74.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after buying an additional 6,363 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of indie Semiconductor in the fourth quarter valued at approximately $62,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock traded up $0.20 during trading on Thursday, reaching $2.34. The company's stock had a trading volume of 2,844,370 shares, compared to its average volume of 3,701,228. The business has a 50 day moving average price of $2.15 and a 200-day moving average price of $3.46. indie Semiconductor, Inc. has a 12-month low of $1.53 and a 12-month high of $7.82. The company has a market capitalization of $486.83 million, a P/E ratio of -3.07 and a beta of 2.01. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The company had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. As a group, sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group began coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They issued a "neutral" rating and a $4.50 price target for the company. KeyCorp lowered their price target on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Benchmark reaffirmed a "buy" rating and set a $8.00 price objective on shares of indie Semiconductor in a research note on Wednesday, April 9th. Finally, B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, indie Semiconductor has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,570 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $2.90, for a total transaction of $39,353.00. Following the completion of the transaction, the chief operating officer now directly owns 67,012 shares in the company, valued at approximately $194,334.80. This trade represents a 16.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Donald Mcclymont sold 65,754 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $2.90, for a total transaction of $190,686.60. Following the completion of the sale, the chief executive officer now directly owns 246,535 shares in the company, valued at $714,951.50. This trade represents a 21.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,277 shares of company stock valued at $434,192 in the last quarter. 8.20% of the stock is currently owned by corporate insiders.

indie Semiconductor Company 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.