Daiwa Securities Group Inc. Has $60,000 Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

Daiwa Securities Group Inc. raised its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 74.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,897 shares of the company’s stock after purchasing an additional 6,363 shares during the quarter. Daiwa Securities Group Inc.’s holdings in indie Semiconductor were worth $60,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INDI. Virtu Financial LLC acquired a new stake in shares of indie Semiconductor in the 3rd quarter valued at about $58,000. FNY Investment Advisers LLC bought a new position in shares of indie Semiconductor in the 4th quarter valued at about $74,000. Legato Capital Management LLC grew its holdings in shares of indie Semiconductor by 47.9% in the 4th quarter. Legato Capital Management LLC now owns 20,285 shares of the company’s stock valued at $82,000 after acquiring an additional 6,570 shares in the last quarter. M&T Bank Corp grew its holdings in shares of indie Semiconductor by 41.5% in the 4th quarter. M&T Bank Corp now owns 28,348 shares of the company’s stock valued at $115,000 after acquiring an additional 8,308 shares in the last quarter. Finally, American Trust grew its holdings in shares of indie Semiconductor by 28.2% in the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after acquiring an additional 6,375 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Trading Up 6.4 %

indie Semiconductor stock opened at $2.49 on Tuesday. indie Semiconductor, Inc. has a 52 week low of $2.29 and a 52 week high of $7.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The stock has a market capitalization of $502.77 million, a P/E ratio of -3.28 and a beta of 1.54. The stock has a 50-day simple moving average of $3.71 and a 200 day simple moving average of $3.93.

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

Insider Transactions at indie Semiconductor

In other news, CEO Donald Mcclymont sold 65,754 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the completion of the sale, the chief executive officer now owns 246,535 shares in the company, valued at $714,951.50. The trade was a 21.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Michael Wittmann sold 10,875 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $2.81, for a total value of $30,558.75. Following the sale, the chief operating officer now 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 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.

Wall Street Analysts Forecast Growth

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

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.