indie Semiconductor (NASDAQ:INDI) Trading Up 4.8%

indie Semiconductor, Inc. (NASDAQ:INDI) shares rose 4.8% during mid-day trading on Wednesday . The stock traded as high as $5.57 and last traded at $5.46. Approximately 976,906 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 2,649,077 shares. The stock had previously closed at $5.21.

Wall Street Analysts Forecast Growth

INDI has been the topic of several research analyst reports. Craig Hallum decreased 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 report on Friday, February 23rd. KeyCorp reduced their price target on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.50.

indie Semiconductor Stock Performance

The business’s 50 day moving average price is $6.44 and its 200-day moving average price is $6.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. The company 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%. Equities research analysts predict that indie Semiconductor, Inc. will post -0.42 EPS for the current fiscal year.

Insider Activity

In related news, President Ichiro Aoki sold 50,000 shares of indie Semiconductor stock in a transaction on 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 owns 31,208 shares in the company, valued at $211,278.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, President Ichiro Aoki sold 50,000 shares of indie Semiconductor stock in a transaction on 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 owns 31,208 shares in the company, valued at $211,278.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Wittmann sold 8,700 shares of indie Semiconductor stock in a transaction on Monday, March 11th. The stock was sold at an average price of $6.95, for a total transaction 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 approximately $246,447. The disclosure for this sale can be found here. Insiders have sold 113,323 shares of company stock worth $740,444 over the last 90 days. Company insiders own 9.90% of the company’s stock.

Institutional Trading of indie Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Handelsbanken Fonder AB increased its stake in indie Semiconductor by 77.6% during the third quarter. Handelsbanken Fonder AB now owns 29,653 shares of the company’s stock valued at $187,000 after purchasing an additional 12,953 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in indie Semiconductor by 7.1% during the third quarter. Commonwealth Equity Services LLC now owns 43,459 shares of the company’s stock valued at $274,000 after purchasing an additional 2,868 shares during the last quarter. Raymond James & Associates increased its stake in indie Semiconductor by 213.0% during the third quarter. Raymond James & Associates now owns 101,197 shares of the company’s stock valued at $638,000 after purchasing an additional 68,866 shares during the last quarter. Trellus Management Company LLC increased its stake in indie Semiconductor by 8.7% during the third quarter. Trellus Management Company LLC now owns 110,000 shares of the company’s stock valued at $693,000 after purchasing an additional 8,776 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in indie Semiconductor by 4.2% during the third quarter. Bank of New York Mellon Corp now owns 456,337 shares of the company’s stock valued at $2,875,000 after purchasing an additional 18,235 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

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.