Bank of Nova Scotia Purchases Shares of 185,758 indie Semiconductor, Inc. (NASDAQ:INDI)

Bank of Nova Scotia purchased a new stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 185,758 shares of the company's stock, valued at approximately $757,000. Bank of Nova Scotia owned approximately 0.09% of indie Semiconductor as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INDI. National Bank of Canada FI grew its position in shares of indie Semiconductor by 42.7% in the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock valued at $54,000 after purchasing an additional 4,023 shares during the last quarter. Virtu Financial LLC acquired a new position in indie Semiconductor in the third quarter valued at $58,000. Daiwa Securities Group Inc. lifted its stake in shares of indie Semiconductor by 74.6% in the 4th 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 in the last quarter. Cibc World Markets Corp acquired a new stake in shares of indie Semiconductor in the fourth quarter worth $62,000. Finally, Wedbush Securities Inc. purchased a new position in shares of indie Semiconductor in the 4th quarter valued at $65,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 13,570 shares of indie Semiconductor stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $39,353.00. Following the completion of the transaction, the chief operating officer now directly owns 67,012 shares in the company, valued at $194,334.80. The trade was a 16.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Donald Mcclymont sold 65,754 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the transaction, the chief executive officer now directly owns 246,535 shares of the company's stock, valued at $714,951.50. This trade represents a 21.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,277 shares of company stock worth $434,192 over the last ninety days. 8.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on INDI shares. Benchmark reiterated a "buy" rating and issued a $8.00 price target on shares of indie Semiconductor in a report on Wednesday, April 9th. UBS Group began coverage on indie Semiconductor in a research note on Friday, January 24th. They issued a "neutral" rating and a $4.50 target price for the company. Finally, KeyCorp decreased their price target on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $7.50.

indie Semiconductor Stock Up 2.7 %

NASDAQ INDI traded up $0.05 during trading hours on Friday, reaching $1.91. 2,381,329 shares of the company traded hands, compared to its average volume of 3,776,531. The company has a 50 day moving average of $2.57 and a two-hundred day moving average of $3.61. The stock has a market capitalization of $385.66 million, a PE ratio of -2.51 and a beta of 1.84. indie Semiconductor, Inc. has a 12 month low of $1.53 and a 12 month high of $7.82. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share 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 firm had revenue of $58.01 million during the quarter, compared to the consensus estimate of $58.20 million. As a group, equities analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

indie Semiconductor 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.