Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in indie Semiconductor, Inc. (NASDAQ:INDI)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 64.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 791,271 shares of the company's stock after acquiring an additional 309,409 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.39% of indie Semiconductor worth $3,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Emerald Advisers LLC grew its stake in indie Semiconductor by 139.5% in the fourth quarter. Emerald Advisers LLC now owns 272,929 shares of the company's stock worth $1,105,000 after purchasing an additional 158,957 shares during the period. Vanguard Group Inc. grew its position in shares of indie Semiconductor by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock worth $50,970,000 after buying an additional 942,088 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of indie Semiconductor in the 4th quarter worth about $177,000. Virtu Financial LLC lifted its position in indie Semiconductor by 314.9% during the 4th quarter. Virtu Financial LLC now owns 60,733 shares of the company's stock valued at $246,000 after acquiring an additional 46,096 shares during the period. Finally, Boston Partners bought a new stake in indie Semiconductor during the fourth quarter worth about $2,279,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

indie Semiconductor Stock Performance

Shares of INDI traded down $0.32 during mid-day trading on Friday, hitting $1.60. 7,402,166 shares of the company traded hands, compared to its average volume of 3,732,838. The stock has a market cap of $323.07 million, a price-to-earnings ratio of -2.11 and a beta of 1.84. The stock has a 50-day moving average price of $3.11 and a two-hundred day moving average price of $3.77. indie Semiconductor, Inc. has a 1 year low of $1.56 and a 1 year 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.

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

Wall Street Analysts Forecast Growth

INDI has been the subject of several recent research reports. Benchmark lowered their target price on shares of indie Semiconductor from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, February 21st. UBS Group assumed coverage on indie Semiconductor in a research note on Friday, January 24th. They set a "neutral" rating and a $4.50 price objective for the company. Finally, KeyCorp cut their target price on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. One investment 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 a consensus target price of $7.50.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 10,875 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 77,887 shares in the company, valued at approximately $218,862.47. This represents a 12.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $156,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,289 shares of company stock worth $443,668. Corporate insiders own 8.20% of the company's stock.

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.