indie Semiconductor, Inc. (NASDAQ:INDI) Holdings Decreased by Mutual of America Capital Management LLC

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 trimmed its position in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 80.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.

A number of other institutional investors have also made changes to their positions in INDI. Kera Capital Partners Inc. bought a new stake in shares of indie Semiconductor in the 1st quarter valued at approximately $31,000. SlateStone Wealth LLC increased its holdings in shares of indie Semiconductor by 27.1% in the 1st quarter. SlateStone Wealth LLC now owns 22,100 shares of the company's stock valued at $45,000 after acquiring an additional 4,706 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of indie Semiconductor in the 1st quarter valued at approximately $53,000. ArrowMark Colorado Holdings LLC bought a new stake in shares of indie Semiconductor in the 4th quarter valued at approximately $55,000. Finally, Regal Investment Advisors LLC increased its holdings in shares of indie Semiconductor by 39.2% in the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock valued at $57,000 after acquiring an additional 3,988 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at indie Semiconductor

In other news, COO Michael Wittmann sold 13,725 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $2.59, for a total value 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 approximately $263,304.58. This represents a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $3.42, for a total value of $40,496.22. Following the completion of the transaction, the director directly owned 119,857 shares of the company's stock, valued at approximately $409,910.94. The trade was a 8.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,823 shares of company stock valued at $128,088. Company insiders own 5.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INDI. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. KeyCorp lowered their price objective 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. Benchmark restated a "buy" rating and set a $8.00 price objective (up from $6.00) on shares of indie Semiconductor in a research note on Wednesday, June 25th. Finally, Craig Hallum lowered their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.90.

indie Semiconductor Price Performance

Shares of INDI opened at $4.76 on Thursday. The company has a market cap of $1.01 billion, a P/E ratio of -5.67 and a beta of 2.23. The stock has a fifty day moving average price of $3.77 and a 200 day moving average price 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 4.64. indie Semiconductor, Inc. has a 12 month low of $1.53 and a 12 month high of $5.57.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates 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 the consensus estimate of $51.40 million. During the same period in the prior year, the business earned ($0.09) EPS. The firm's revenue was down 1.5% on a year-over-year basis. On average, research analysts forecast that indie Semiconductor, Inc. will post -0.54 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.

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