M&T Bank Corp Grows Position in indie Semiconductor, Inc. (NASDAQ:INDI)

M&T Bank Corp raised its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 41.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,348 shares of the company’s stock after acquiring an additional 8,308 shares during the period. M&T Bank Corp’s holdings in indie Semiconductor were worth $115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of indie Semiconductor in the 3rd quarter valued at about $58,000. FNY Investment Advisers LLC purchased a new position in shares of indie Semiconductor during the 4th quarter valued at about $74,000. Legato Capital Management LLC raised its holdings in shares of 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 buying an additional 6,570 shares in the last quarter. American Trust raised its holdings in shares of indie Semiconductor by 28.2% during the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after buying an additional 6,375 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of indie Semiconductor during the 3rd quarter valued at about $143,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

INDI has been the topic of a number of research reports. Benchmark decreased their price objective on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, February 21st. KeyCorp decreased their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, UBS Group initiated coverage on indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Insiders Place Their Bets

In other news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the completion of the sale, the chief operating officer now owns 28,860 shares in the company, valued at approximately $118,326. This represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,789 shares of company stock valued at $747,537 in the last ninety days. Company insiders own 8.20% of the company’s stock.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock opened at $2.34 on Friday. 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 business’s 50 day simple moving average is $3.75 and its two-hundred day simple moving average is $3.94. The stock has a market capitalization of $472.48 million, a P/E ratio of -3.08 and a beta of 1.54. indie Semiconductor, Inc. has a one year low of $2.29 and a one year high of $7.82.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. Analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current 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.