indie Semiconductor, Inc. (NASDAQ:INDI) Stake Boosted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 64.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 791,271 shares of the company’s stock after purchasing an additional 309,409 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.39% of indie Semiconductor worth $3,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of INDI. Virtu Financial LLC bought a new stake in shares of indie Semiconductor during the 3rd quarter valued at about $58,000. Daiwa Securities Group Inc. grew its holdings in shares of indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after purchasing an additional 6,363 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of indie Semiconductor during the fourth quarter valued at approximately $62,000. FNY Investment Advisers LLC bought a new stake in shares of indie Semiconductor in the 4th quarter worth approximately $74,000. Finally, Legato Capital Management LLC boosted its position in indie Semiconductor by 47.9% during the 4th quarter. Legato Capital Management LLC now owns 20,285 shares of the company’s stock valued at $82,000 after purchasing an additional 6,570 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group initiated coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price on the stock. Benchmark dropped their price objective on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, KeyCorp reduced their target price on shares of 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

indie Semiconductor Stock Down 2.9 %

indie Semiconductor stock opened at $1.98 on Wednesday. indie Semiconductor, Inc. has a 52 week low of $1.90 and a 52 week high of $7.82. The stock has a market cap of $399.79 million, a price-to-earnings ratio of -2.61 and a beta of 1.54. The company’s 50-day moving average price is $3.26 and its two-hundred day moving average price is $3.81. 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) last posted 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). The company had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. On average, analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other indie Semiconductor news, COO Michael Wittmann sold 10,875 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $2.81, for a total value of $30,558.75. Following the completion of the sale, the chief operating officer now directly owns 77,887 shares of the company’s stock, valued at approximately $218,862.47. This represents a 12.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the completion of the transaction, the chief executive officer now directly owns 65,932 shares in the company, valued at $205,707.84. This represents a 43.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,414 shares of company stock worth $456,699 over the last 90 days. 8.20% of the stock is currently owned by company insiders.

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.