The Manufacturers Life Insurance Company Raises Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

The Manufacturers Life Insurance Company boosted its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 11.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,769 shares of the company’s stock after acquiring an additional 6,608 shares during the period. The Manufacturers Life Insurance Company’s holdings in indie Semiconductor were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. ProShare Advisors LLC grew 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 purchasing an additional 2,131 shares during the period. Principal Financial Group Inc. boosted its holdings in indie Semiconductor by 15.3% in the first quarter. Principal Financial Group Inc. now owns 20,162 shares of the company’s stock valued at $143,000 after purchasing an additional 2,674 shares in the last quarter. GAMMA Investing LLC boosted its holdings in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares in the last quarter. Quent Capital LLC lifted its stake in indie Semiconductor by 66.7% in the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after buying an additional 4,000 shares during the last quarter. Finally, Wealth Effects LLC raised its stake in shares of indie Semiconductor by 2.8% during the second quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,600 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INDI has been the topic of a number of analyst reports. Roth Mkm decreased their price objective on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of indie Semiconductor in a research report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.50.

Insiders Place Their Bets

In related news, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the sale, the chief financial officer now directly owns 977,192 shares in the company, valued at approximately $3,742,645.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.20% of the company’s stock.

indie Semiconductor Price Performance

INDI stock opened at $3.55 on Thursday. The business has a fifty day moving average price of $3.89 and a 200 day moving average price of $5.45. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.69. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The firm had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. During the same period in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts anticipate that indie Semiconductor, Inc. will post -0.7 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.