Mutual of America Capital Management LLC Cuts Stake in indie Semiconductor, Inc. (NASDAQ:INDI)

Mutual of America Capital Management LLC trimmed its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 80.1% during the 1st quarter, according to its most recent 13F filing with the 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 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INDI. Frontier Capital Management Co. LLC grew its position in indie Semiconductor by 60.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock valued at $70,366,000 after purchasing an additional 6,517,978 shares during the last quarter. Bamco Inc. NY lifted its stake in indie Semiconductor by 30.6% during the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock valued at $80,602,000 after acquiring an additional 4,661,220 shares during the period. Tudor Investment Corp ET AL bought a new position in indie Semiconductor during the 4th quarter valued at about $6,040,000. Aristeia Capital L.L.C. bought a new position in indie Semiconductor during the 4th quarter valued at about $4,135,000. Finally, Vanguard Group Inc. lifted its stake in indie Semiconductor by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock valued at $50,970,000 after acquiring an additional 942,088 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, 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 transaction of $40,496.22. Following the sale, the director owned 119,857 shares in the company, valued at approximately $409,910.94. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief operating officer owned 101,662 shares in the company, valued at approximately $263,304.58. The trade was a 11.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,823 shares of company stock worth $128,088 in the last quarter. Company insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

INDI has been the topic of several research analyst reports. Craig Hallum lowered their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. KeyCorp lowered their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Benchmark restated a "buy" rating and set a $8.00 target price (up previously from $6.00) on shares of indie Semiconductor in a research note on Wednesday, June 25th. Finally, B. Riley restated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $6.08.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI traded up $0.10 during trading on Monday, hitting $4.28. The company's stock had a trading volume of 2,193,886 shares, compared to its average volume of 4,141,811. The company has a 50-day moving average of $3.44 and a 200-day moving average of $3.07. indie Semiconductor, Inc. has a 12 month low of $1.53 and a 12 month high of $6.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64. The firm has a market cap of $909.54 million, a price-to-earnings ratio of -5.71 and a beta of 2.20.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The firm had revenue of $54.08 million for the quarter, compared to analysts' expectations of $54.94 million. During the same quarter in the prior year, the business earned ($0.10) EPS. The business's quarterly revenue was up 3.2% on a year-over-year basis. On average, sell-side analysts expect 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.