Mirae Asset Global Investments Co. Ltd. Has $9.21 Million Stock Position in indie Semiconductor, Inc. (NASDAQ:INDI) – Defense World
Posted by Defense World Staff on Jul 9th, 2024 
Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI – Free Report) by 26.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,300,540 shares of the company’s stock after buying an additional 268,776 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.71% of indie Semiconductor worth $9,208,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in INDI. Granahan Investment Management LLC raised its position in indie Semiconductor by 63.3% in the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock worth $107,008,000 after acquiring an additional 5,115,393 shares during the period. Intrinsic Edge Capital Management LLC raised its position in indie Semiconductor by 132.5% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock worth $23,466,000 after acquiring an additional 1,648,818 shares during the period. UBS Group AG raised its position in indie Semiconductor by 4,346.7% in the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock worth $12,041,000 after acquiring an additional 1,451,308 shares during the period. Frontier Capital Management Co. LLC raised its position in indie Semiconductor by 40.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock worth $25,453,000 after acquiring an additional 902,530 shares during the period. Finally, Primecap Management Co. CA raised its position in indie Semiconductor by 20.7% in the fourth quarter. Primecap Management Co. CA now owns 5,060,480 shares of the company’s stock worth $41,040,000 after acquiring an additional 867,180 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of indie Semiconductor stock opened at $6.37 on Tuesday. indie Semiconductor, Inc. has a 52-week low of $4.67 and a 52-week high of $9.85. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -13.00 and a beta of 1.22. The company has a fifty day moving average of $6.46 and a 200-day moving average of $6.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.74.
indie Semiconductor (NASDAQ:INDI – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The business had revenue of $52.35 million during the quarter, compared to analysts’ expectations of $56.30 million. Equities research analysts expect that indie Semiconductor, Inc. will post -0.62 EPS for the current year.
In related news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total transaction of $75,800.00. Following the completion of the sale, the director now directly owns 75,185 shares in the company, valued at approximately $569,902.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other indie Semiconductor news, CFO Thomas Schiller sold 60,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $5.68, for a total value of $340,800.00. Following the completion of the transaction, the chief financial officer now directly owns 1,039,583 shares in the company, valued at approximately $5,904,831.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total transaction of $75,800.00. Following the completion of the transaction, the director now owns 75,185 shares of the company’s stock, valued at $569,902.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 401,744 shares of company stock valued at $2,589,348. Corporate insiders own 8.20% of the company’s stock.
Several analysts have commented on the stock. KeyCorp lowered their price objective on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of indie Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, B. Riley reissued a “buy” rating and issued a $13.50 price target (down previously from $14.50) on shares of indie Semiconductor in a research report on Friday, May 10th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor has an average rating of “Buy” and a consensus target price of $12.64.
View Our Latest Stock Report on INDI
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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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