Migdal Insurance & Financial Holdings Ltd. Sells 4,560 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Migdal Insurance & Financial Holdings Ltd. reduced its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 32.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,642 shares of the company’s stock after selling 4,560 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in indie Semiconductor were worth $81,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bamco Inc. NY boosted its stake in shares of indie Semiconductor by 88.9% during the 3rd quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock worth $69,545,000 after acquiring an additional 5,193,775 shares during the period. Vanguard Group Inc. boosted its stake in indie Semiconductor by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,028,012 shares of the company’s stock valued at $56,876,000 after purchasing an additional 763,140 shares during the period. BlackRock Inc. boosted its stake in indie Semiconductor by 36.7% in the 2nd quarter. BlackRock Inc. now owns 8,849,734 shares of the company’s stock valued at $83,187,000 after purchasing an additional 2,377,645 shares during the period. State Street Corp boosted its stake in indie Semiconductor by 64.2% in the 2nd quarter. State Street Corp now owns 6,943,221 shares of the company’s stock valued at $65,266,000 after purchasing an additional 2,715,874 shares during the period. Finally, Soros Fund Management LLC boosted its stake in indie Semiconductor by 24.5% in the 1st quarter. Soros Fund Management LLC now owns 4,355,753 shares of the company’s stock valued at $34,018,000 after purchasing an additional 855,753 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Transactions at indie Semiconductor

In other news, COO Michael Wittmann sold 8,700 shares of the stock in a transaction dated Monday, March 11th. The stock was 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 of the company’s stock, valued at $246,447. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Michael Wittmann sold 8,700 shares of the stock in a transaction dated Monday, March 11th. The stock was 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 of the company’s stock, valued at $246,447. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Ichiro Aoki sold 50,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.77, for a total value of $338,500.00. Following the completion of the sale, the president now directly owns 31,208 shares of the company’s stock, valued at approximately $211,278.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,491 shares of company stock valued at $730,936. Corporate insiders own 9.90% of the company’s stock.

indie Semiconductor Price Performance

NASDAQ:INDI opened at $5.54 on Friday. The stock has a fifty day moving average price of $6.64 and a 200-day moving average price of $6.66. The company has a current ratio of 1.96, a quick ratio of 1.72 and a debt-to-equity ratio of 0.33. indie Semiconductor, Inc. has a fifty-two week low of $4.67 and a fifty-two week high of $10.85.

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

Analysts Set New Price Targets

INDI has been the subject of several recent research reports. Craig Hallum reduced their price target on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. KeyCorp reduced their price target on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $13.50.

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.