indie Semiconductor, Inc. (NASDAQ:INDI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 88.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,342 shares of the company's stock after selling 1,247,571 shares during the period. Bank of America Corp DE owned 0.08% of indie Semiconductor worth $657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Regal Investment Advisors LLC lifted its holdings in shares of indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock valued at $57,000 after purchasing an additional 3,988 shares during the last quarter. National Bank of Canada FI lifted its holdings in indie Semiconductor by 42.7% in the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock valued at $54,000 after acquiring an additional 4,023 shares during the period. Rhumbline Advisers boosted its holdings in shares of indie Semiconductor by 1.8% in the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company's stock worth $968,000 after buying an additional 4,156 shares during the last quarter. Invesco Ltd. increased its stake in shares of indie Semiconductor by 5.5% in the 4th quarter. Invesco Ltd. now owns 93,328 shares of the company's stock worth $378,000 after purchasing an additional 4,879 shares in the last quarter. Finally, Arizona State Retirement System increased its position in indie Semiconductor by 13.0% in the fourth quarter. Arizona State Retirement System now owns 51,961 shares of the company's stock worth $210,000 after buying an additional 5,960 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Activity

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $2.59, for a total value of $35,547.75. Following the completion of the transaction, the chief operating officer now directly owns 101,662 shares of the company's stock, valued at approximately $263,304.58. This trade represents a 11.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.20% of the company's stock.

Wall Street Analysts Forecast Growth

INDI has been the topic of several recent analyst reports. Craig Hallum decreased their target price on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. KeyCorp reduced their price objective on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, Benchmark reiterated a "buy" rating and set a $6.00 target price on shares of indie Semiconductor in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, indie Semiconductor presently has a consensus rating of "Moderate Buy" and an average price target of $5.75.

indie Semiconductor Trading Down 0.6%

NASDAQ INDI traded down $0.02 on Wednesday, reaching $3.23. The stock had a trading volume of 4,456,672 shares, compared to its average volume of 3,705,714. The stock has a fifty day moving average price of $2.28 and a two-hundred day moving average price of $3.23. indie Semiconductor, Inc. has a 12-month low of $1.53 and a 12-month high of $7.80. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $686.42 million, a price-to-earnings ratio of -4.25 and a beta of 2.12.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). The firm had revenue of $54.08 million for the quarter, compared to analyst estimates of $54.94 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) earnings per share. As a group, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

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.