indie Semiconductor, Inc. (NASDAQ:INDI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 493,609 shares of the company’s stock after selling 14,635 shares during the quarter. Bank of New York Mellon Corp’s holdings in indie Semiconductor were worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in INDI. Charles Schwab Investment Management Inc. grew its position in indie Semiconductor by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock valued at $5,260,000 after acquiring an additional 120,071 shares during the period. Geode Capital Management LLC grew its position in indie Semiconductor by 7.5% during the third quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after acquiring an additional 276,739 shares during the period. State Street Corp grew its position in indie Semiconductor by 2.3% during the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after acquiring an additional 161,132 shares during the period. Barclays PLC boosted its position in shares of indie Semiconductor by 330.7% in the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after buying an additional 197,179 shares during the period. Finally, Elemental Capital Partners LLC purchased a new stake in shares of indie Semiconductor in the fourth quarter worth about $14,272,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $3.12, for a total value of $156,000.00. Following the completion of the transaction, the chief executive officer now owns 65,932 shares in the company, valued at approximately $205,707.84. The trade was a 43.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the transaction, the chief operating officer now owns 28,860 shares of the company’s stock, valued at $118,326. This trade represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 169,789 shares of company stock worth $532,037 over the last quarter. Company insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

INDI has been the subject of several analyst reports. KeyCorp decreased their target price on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. UBS Group started coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price for the company. Finally, Benchmark reduced their price target on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.50.

indie Semiconductor Price Performance

NASDAQ INDI opened at $2.23 on Friday. indie Semiconductor, Inc. has a fifty-two week low of $2.12 and a fifty-two week high of $7.82. The stock’s 50-day moving average is $3.54 and its two-hundred day moving average is $3.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The firm has a market cap of $450.27 million, a P/E ratio of -2.93 and a beta of 1.54.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. On average, analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

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.