Mutual of America Capital Management LLC Purchases 62,770 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Mutual of America Capital Management LLC lifted its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 14.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 486,252 shares of the company’s stock after purchasing an additional 62,770 shares during the period. Mutual of America Capital Management LLC owned 0.26% of indie Semiconductor worth $3,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INDI. Primecap Management Co. CA grew its holdings in shares of indie Semiconductor by 93.5% in the second quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company’s stock valued at $97,357,000 after acquiring an additional 7,624,797 shares in the last quarter. Bamco Inc. NY grew its position in indie Semiconductor by 28.0% during the first quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock valued at $101,144,000 after buying an additional 3,121,255 shares during the period. Granahan Investment Management LLC increased its holdings in indie Semiconductor by 63.3% during the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock worth $107,008,000 after buying an additional 5,115,393 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of indie Semiconductor by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after purchasing an additional 332,500 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in indie Semiconductor by 40.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock worth $25,453,000 after buying an additional 902,530 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INDI has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Roth Mkm reduced their price objective on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of indie Semiconductor in a research note on Tuesday, September 10th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor currently has a consensus rating of “Buy” and an average price target of $10.50.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 80,260 shares of company stock worth $311,514. 8.20% of the stock is currently owned by insiders.

indie Semiconductor Trading Down 1.4 %

indie Semiconductor stock opened at $3.58 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. The firm’s fifty day moving average price is $4.63 and its 200-day moving average price is $5.78. The stock has a market cap of $668.61 million, a P/E ratio of -7.31 and a beta of 1.20. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.69.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The firm had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.7 earnings per share for the current fiscal 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.