indie Semiconductor, Inc. $INDI Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. cut its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 42.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 461,001 shares of the company’s stock after selling 336,093 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in indie Semiconductor were worth $1,706,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INDI. Elemental Capital Partners LLC acquired a new stake in shares of indie Semiconductor in the 3rd quarter valued at about $30,979,000. Tudor Investment Corp ET AL acquired a new stake in shares of indie Semiconductor in the 3rd quarter valued at about $22,385,000. Millennium Management LLC boosted its position in shares of indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after purchasing an additional 3,037,435 shares during the period. Handelsbanken Fonder AB boosted its position in shares of indie Semiconductor by 1,938.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock valued at $6,429,000 after purchasing an additional 1,502,175 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after purchasing an additional 1,334,145 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on INDI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. UBS Group upped their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, indie Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.55.

Insiders Place Their Bets

In other indie Semiconductor news, President Ichiro Aoki sold 100,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $4.40, for a total transaction of $440,000.00. Following the completion of the sale, the president directly owned 106,169 shares of the company’s stock, valued at approximately $467,143.60. This trade represents a 48.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Mcclymont sold 18,420 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $2.99, for a total value of $55,075.80. Following the sale, the chief executive officer directly owned 298,500 shares of the company’s stock, valued at $892,515. The trade was a 5.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 862,682 shares of company stock valued at $2,890,378. 2.57% of the stock is owned by company insiders.

indie Semiconductor Stock Up 10.2%

indie Semiconductor stock opened at $4.74 on Tuesday. indie Semiconductor, Inc. has a twelve month low of $2.29 and a twelve month high of $6.05. The stock has a 50 day moving average of $3.21 and a two-hundred day moving average of $3.78. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.24 and a beta of 2.74.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). indie Semiconductor had a negative return on equity of 28.94% and a negative net margin of 69.76%.The company had revenue of $55.46 million during the quarter, compared to analysts’ expectations of $55.09 million. During the same period last year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, research analysts expect that indie Semiconductor, Inc. will post -0.44 earnings per share for the current year.

indie Semiconductor Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.