Comerica Bank Boosts Stock Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Artemis Investment Management LLP raised its position in shares of indie Semiconductor by 482.7% during the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company's stock valued at $26,486,000 after buying an additional 5,417,296 shares during the period. Elemental Capital Partners LLC acquired a new stake in indie Semiconductor during the fourth quarter worth $14,272,000. Tudor Investment Corp ET AL acquired a new position in shares of indie Semiconductor in the 4th quarter valued at $6,040,000. Vanguard Group Inc. lifted its stake in shares of indie Semiconductor by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock valued at $50,970,000 after purchasing an additional 942,088 shares during the last quarter. Finally, Penn Capital Management Company LLC purchased a new position in shares of indie Semiconductor during the 4th quarter worth $3,575,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 65,754 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the completion of the transaction, the chief executive officer now directly owns 246,535 shares of the company's stock, valued at $714,951.50. This represents a 21.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael Wittmann sold 10,875 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $2.81, for a total transaction of $30,558.75. Following the sale, the chief operating officer now directly owns 77,887 shares in the company, valued at approximately $218,862.47. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,277 shares of company stock worth $434,192. Corporate insiders own 8.20% of the company's stock.

indie Semiconductor Stock Performance

Shares of indie Semiconductor stock remained flat at $2.33 during trading hours on Friday. The stock had a trading volume of 3,208,899 shares, compared to its average volume of 3,681,345. The company has a market capitalization of $485.79 million, a price-to-earnings ratio of -3.07 and a beta of 2.01. The firm has a 50-day moving average of $2.14 and a two-hundred day moving average of $3.44. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $7.82. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS 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. Research analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.