Walleye Capital LLC Makes New $62,000 Investment in indie Semiconductor, Inc. (NASDAQ:INDI)

Walleye Capital LLC acquired a new stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,394 shares of the company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds have also recently modified their holdings of INDI. National Bank of Canada FI raised its position in shares of indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock valued at $54,000 after buying an additional 4,023 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of indie Semiconductor during the third quarter valued at approximately $58,000. Daiwa Securities Group Inc. raised its position in shares of indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after buying an additional 6,363 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of indie Semiconductor during the fourth quarter valued at approximately $62,000. Finally, Wedbush Securities Inc. bought a new stake in shares of indie Semiconductor during the fourth quarter valued at approximately $65,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Donald Mcclymont sold 50,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 65,932 shares of the company’s stock, valued at approximately $205,707.84. This trade represents a 43.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Wittmann sold 10,875 shares of the firm’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 transaction of $30,558.75. Following the transaction, the chief operating officer now directly owns 77,887 shares in the company, valued at approximately $218,862.47. This trade represents a 12.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,277 shares of company stock valued at $434,192 over the last 90 days. Insiders own 8.20% of the company’s stock.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $2.00 on Monday. 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, Inc. has a 12 month low of $1.53 and a 12 month high of $7.82. The company has a 50-day moving average price of $2.38 and a 200 day moving average price of $3.54. The company has a market cap of $416.99 million, a price-to-earnings ratio of -2.63 and a beta of 1.84.

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

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.