Mizuho Markets Americas LLC Buys 536,858 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Key Points

• Mizuho Markets Americas LLC has significantly increased its stake in indie Semiconductor, acquiring an additional 536,858 shares, bringing its total holdings to 877,424 shares, valued at approximately $1.786 million.
• indie Semiconductor reported a quarterly loss of ($0.08) earnings per share, meeting analysts' expectations, while revenues were around $51.63 million, slightly up from last year's quarter.
• The company's stock has shown volatility over the past year, with a 52-week low of $1.53 and a high of $5.57, and currently has a market cap of $854.29 million.

Mizuho Markets Americas LLC grew its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 157.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 877,424 shares of the company's stock after purchasing an additional 536,858 shares during the quarter. Mizuho Markets Americas LLC owned approximately 0.42% of indie Semiconductor worth $1,786,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of INDI. Barclays PLC raised its stake in indie Semiconductor by 12.4% during the fourth quarter. Barclays PLC now owns 288,715 shares of the company's stock worth $1,169,000 after acquiring an additional 31,916 shares during the period. Vanguard Group Inc. increased its stake in shares of indie Semiconductor by 8.1% in the fourth 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of indie Semiconductor by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company's stock valued at $1,069,000 after purchasing an additional 32,979 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of indie Semiconductor by 56.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,736 shares of the company's stock valued at $326,000 after purchasing an additional 55,872 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in shares of indie Semiconductor in the fourth quarter valued at approximately $386,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

In related news, Director Sonalee Elizabeth Parekh sold 11,841 shares of indie Semiconductor stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $3.42, for a total transaction of $40,496.22. Following the completion of the transaction, the director directly owned 119,857 shares of the company's stock, valued at $409,910.94. This trade represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief operating officer directly owned 101,662 shares of the company's stock, valued at $263,304.58. This represents a 11.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,823 shares of company stock worth $128,088. 5.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INDI has been the topic of several analyst reports. B. Riley restated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Craig Hallum decreased their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Benchmark reiterated a "buy" rating and issued a $8.00 price objective (up from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. Finally, KeyCorp decreased their price objective on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, indie Semiconductor presently has a consensus rating of "Moderate Buy" and an average target price of $5.90.

indie Semiconductor Stock Down 2.4%

Shares of indie Semiconductor stock traded down $0.12 during midday trading on Thursday, reaching $4.65. 2,610,702 shares of the company's stock traded hands, compared to its average volume of 4,060,541. The company has a market cap of $987.13 million, a price-to-earnings ratio of -5.53 and a beta of 2.23. The company's 50 day simple moving average is $3.77 and its 200 day simple moving average is $3.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.64 and a current ratio of 4.34. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $5.57.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative net margin of 71.98% and a negative return on equity of 28.43%. The business had revenue of $51.63 million for the quarter, compared to analyst estimates of $51.40 million. During the same period last year, the business posted ($0.09) EPS. indie Semiconductor's revenue was down 1.5% compared to the same quarter last year. Equities analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

About indie Semiconductor

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.