indie Semiconductor (NASDAQ:INDI) Shares Up 8.6% – Still a Buy?

indie Semiconductor, Inc. (NASDAQ:INDI) shot up 8.6% during mid-day trading on Friday . The stock traded as high as $5.06 and last traded at $5.05. 1,543,806 shares were traded during mid-day trading, a decline of 47% from the average session volume of 2,889,671 shares. The stock had previously closed at $4.65.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Benchmark decreased their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Roth Mkm decreased their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $9.79.

indie Semiconductor Stock Up 6.0 %

The firm has a market cap of $995.47 million, a P/E ratio of -7.43 and a beta of 1.22. The business’s fifty day moving average price is $3.87 and its two-hundred day moving average price is $5.08. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling

In related news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. This trade represents a 7.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Donald Mcclymont sold 200,000 shares of indie Semiconductor stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the transaction, the chief executive officer now owns 18,351 shares in the company, valued at $86,433.21. This trade represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,531 shares of company stock worth $1,242,915 in the last quarter. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC increased its holdings in shares of indie Semiconductor by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock worth $192,000 after purchasing an additional 2,131 shares during the period. GAMMA Investing LLC increased its holdings in shares of indie Semiconductor by 1,743.8% during the 2nd 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. Wealth Effects LLC increased its holdings in shares of indie Semiconductor by 2.8% during the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,600 shares during the period. Register Financial Advisors LLC increased its holdings in shares of indie Semiconductor by 3.7% during the 2nd quarter. Register Financial Advisors LLC now owns 138,440 shares of the company’s stock worth $854,000 after purchasing an additional 5,000 shares during the period. Finally, Tempus Wealth Planning LLC increased its holdings in shares of indie Semiconductor by 30.6% during the 2nd quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock worth $138,000 after purchasing an additional 5,238 shares during the period. 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.