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

Mutual of America Capital Management LLC raised its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 28.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 457,881 shares of the company’s stock after purchasing an additional 100,295 shares during the quarter. Mutual of America Capital Management LLC’s holdings in indie Semiconductor were worth $3,713,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in indie Semiconductor by 269.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $50,000 after purchasing an additional 4,470 shares during the last quarter. Arizona State Retirement System boosted its holdings in indie Semiconductor by 6.3% in the fourth quarter. Arizona State Retirement System now owns 36,447 shares of the company’s stock valued at $296,000 after purchasing an additional 2,167 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in indie Semiconductor in the fourth quarter valued at $318,000. Raymond James & Associates boosted its holdings in indie Semiconductor by 2.7% in the fourth quarter. Raymond James & Associates now owns 103,897 shares of the company’s stock valued at $843,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Penbrook Management LLC purchased a new stake in indie Semiconductor in the fourth quarter valued at $154,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. KeyCorp lowered their price target on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Craig Hallum lowered their target price on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $13.50.

indie Semiconductor Stock Down 2.5 %

INDI stock opened at $5.85 on Wednesday. The company’s 50-day simple moving average is $6.69 and its 200-day simple moving average is $6.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. indie Semiconductor, Inc. has a 52-week low of $4.67 and a 52-week high of $10.85.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. As a group, equities analysts predict that indie Semiconductor, Inc. will post -0.42 earnings per share for the current year.

Insider Activity at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other indie Semiconductor news, COO Michael Wittmann sold 8,700 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the completion of the sale, the chief operating officer now owns 35,460 shares in the company, valued at approximately $246,447. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total transaction of $312,500.00. Following the sale, the chief executive officer now owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,491 shares of company stock valued at $730,936. 9.90% of the stock is owned by corporate insiders.

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.