Bank of America Corp DE Has $657,000 Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Bank of America Corp DE lessened its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 88.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 institutional investors and hedge funds have also recently bought and sold shares of INDI. National Bank of Canada FI raised its position in shares of indie Semiconductor by 42.7% during the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after buying an additional 4,023 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in shares of indie Semiconductor in the fourth quarter valued at $55,000. Regal Investment Advisors LLC boosted its stake in 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 buying an additional 3,988 shares in the last quarter. Daiwa Securities Group Inc. raised its position in indie Semiconductor by 74.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock worth $60,000 after acquiring an additional 6,363 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of indie Semiconductor in the 4th quarter worth approximately $62,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

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

indie Semiconductor Stock Down 7.8%

Shares of INDI traded down $0.27 during trading hours on Friday, hitting $3.19. 4,029,070 shares of the company were exchanged, compared to its average volume of 3,884,920. The company has a market cap of $677.92 million, a PE ratio of -4.20 and a beta of 2.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The firm's 50 day moving average is $2.34 and its 200-day moving average is $3.21. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $7.45.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The firm had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The firm's revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Benchmark reaffirmed a "buy" rating and set a $6.00 target price on shares of indie Semiconductor in a research report on Wednesday. Craig Hallum reduced their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. KeyCorp dropped their target price 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, B. Riley restated a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

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.