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

M&T Bank Corp raised its holdings in indie Semiconductor, Inc. (NASDAQ:INDIFree Report) 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.

Check Out Our Latest Analysis on indie Semiconductor

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:INDIGet Free Report) 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

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for indie Semiconductor (NASDAQ:INDI)

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