Mutual of America Capital Management LLC Sells 385,594 Shares of indie Semiconductor, Inc. $INDI

Key Points

• Mutual of America Capital Management LLC significantly reduced its holdings in indie Semiconductor by 80.1%, bringing its ownership down to 95,717 shares after selling 385,594 shares in the first quarter.
• Insider transactions saw COO Michael Wittmann and Director Sonalee Elizabeth Parekh sell a combined total of 25,566 shares recently, indicating a decrease in their ownership stakes of roughly 11.89% and 8.99%, respectively.
• Analysts have varied views on indie Semiconductor, with one brokerage setting a price objective of $8.00 while another lowered it to $6.00, resulting in a current average target price of $5.90.

Mutual of America Capital Management LLC reduced its position in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 80.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,717 shares of the company's stock after selling 385,594 shares during the quarter. Mutual of America Capital Management LLC's holdings in indie Semiconductor were worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Deutsche Bank AG grew its position in shares of indie Semiconductor by 453.2% in the first quarter. Deutsche Bank AG now owns 1,361,077 shares of the company's stock valued at $2,777,000 after purchasing an additional 1,115,049 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of indie Semiconductor by 8.9% in the 1st quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock valued at $58,249,000 after acquiring an additional 2,335,620 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of indie Semiconductor by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 12,805,999 shares of the company's stock valued at $26,060,000 after acquiring an additional 220,737 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of indie Semiconductor by 612.9% in the 1st quarter. Bank of Nova Scotia now owns 1,324,256 shares of the company's stock valued at $2,695,000 after acquiring an additional 1,138,498 shares in the last quarter. Finally, Malaga Cove Capital LLC purchased a new stake in shares of indie Semiconductor in the 1st quarter valued at about $820,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INDI. B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. KeyCorp cut their target price on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Craig Hallum reduced their price target on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Benchmark reaffirmed a "buy" rating and set a $8.00 price target (up previously from $6.00) on shares of indie Semiconductor in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, indie Semiconductor currently has a consensus rating of "Moderate Buy" and an average target price of $5.90.

Insider Buying and Selling

In related news, COO Michael Wittmann sold 13,725 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $2.59, for a total transaction of $35,547.75. Following the completion of the transaction, the chief operating officer owned 101,662 shares of the company's stock, valued at $263,304.58. This trade represents a 11.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the transaction, the director directly owned 119,857 shares of the company's stock, valued at approximately $409,910.94. This trade represents a 8.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,823 shares of company stock valued at $128,088. 5.60% of the stock is owned by corporate insiders.

indie Semiconductor Trading Down 1.4%

INDI traded down $0.07 during midday trading on Monday, reaching $4.46. 927,950 shares of the company's stock traded hands, compared to its average volume of 4,043,014. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $5.57. The stock has a market capitalization of $963.04 million, a price-to-earnings ratio of -5.30 and a beta of 2.23. The firm has a fifty day moving average of $3.84 and a two-hundred day moving average of $3.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.34 and a quick ratio of 3.72.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). indie Semiconductor had a negative return on equity of 28.43% and a negative net margin of 71.98%. The firm had revenue of $51.63 million during the quarter, compared to analyst estimates of $51.40 million. During the same quarter in the prior year, the company earned ($0.09) EPS. The business's revenue was down 1.5% compared to the same quarter last year. On average, equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 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.