Arizona State Retirement System Buys 6,075 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Arizona State Retirement System boosted its stake in indie Semiconductor, Inc. (NASDAQ:INDI) by 16.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,756 shares of the company’s stock after purchasing an additional 6,075 shares during the period. Arizona State Retirement System’s holdings in indie Semiconductor were worth $270,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. grew its position in indie Semiconductor by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after purchasing an additional 2,000 shares during the period. ProShare Advisors LLC boosted its stake in shares of indie Semiconductor by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock worth $192,000 after acquiring an additional 2,131 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of indie Semiconductor by 15.3% during the 1st quarter. Principal Financial Group Inc. now owns 20,162 shares of the company’s stock worth $143,000 after acquiring an additional 2,674 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after acquiring an additional 3,906 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in shares of indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Stock Down 0.3 %

INDI opened at $3.81 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.69. The firm’s fifty day moving average is $4.86 and its 200 day moving average is $5.86. The stock has a market cap of $711.57 million, a price-to-earnings ratio of -7.78 and a beta of 1.20.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, meeting 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 company had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $53.61 million. During the same quarter in the previous year, the company earned ($0.11) EPS. indie Semiconductor’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $6.14, for a total transaction of $307,000.00. Following the completion of the transaction, the president now owns 36,631 shares of the company’s stock, valued at approximately $224,914.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the transaction, the chief financial officer now owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ichiro Aoki sold 50,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $6.14, for a total transaction of $307,000.00. Following the transaction, the president now directly owns 36,631 shares of the company’s stock, valued at approximately $224,914.34. The disclosure for this sale can be found here. Insiders sold 206,882 shares of company stock valued at $1,096,570 in the last 90 days. Insiders own 8.20% of the company’s stock.

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.