Mirae Asset Global Investments Co. Ltd. Sells 23,994 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Mirae Asset Global Investments Co. Ltd. lessened its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 18.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,763 shares of the company’s stock after selling 23,994 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in indie Semiconductor were worth $433,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC increased its position in shares of indie Semiconductor by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock valued at $192,000 after buying an additional 2,131 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of indie Semiconductor by 15.3% in the first quarter. Principal Financial Group Inc. now owns 20,162 shares of the company’s stock worth $143,000 after acquiring an additional 2,674 shares in the last quarter. GAMMA Investing LLC raised its position in shares of indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after purchasing an additional 3,906 shares during the period. Quent Capital LLC lifted its holdings in shares of indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Wealth Effects LLC grew its position in shares of indie Semiconductor by 2.8% in the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock valued at $1,053,000 after purchasing an additional 4,600 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

indie Semiconductor Trading Up 5.4 %

Shares of NASDAQ:INDI opened at $3.49 on Friday. The company’s 50-day moving average price is $3.72 and its two-hundred day moving average price is $5.20. indie Semiconductor, Inc. has a one year low of $3.16 and a one year high of $8.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20. The stock has a market capitalization of $689.00 million, a PE ratio of -6.84 and a beta of 1.22.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and issued a $12.00 price objective on shares of indie Semiconductor in a research report on Tuesday, September 10th. Finally, Roth Mkm lowered their target price on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $10.50.

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 8.20% of the stock is currently owned by 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.