indie Semiconductor (NASDAQ:INDI) Shares Up 4.3%

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) shot up 4.3% on Thursday . The stock traded as high as $7.07 and last traded at $7.06. 373,347 shares traded hands during trading, a decline of 85% from the average session volume of 2,417,479 shares. The stock had previously closed at $6.77.

Analyst Ratings Changes

Several brokerages recently weighed in on INDI. 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 report on Friday, February 23rd. Craig Hallum cut their price objective on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, CJS Securities started coverage on indie Semiconductor in a research report on Friday, December 1st. They issued an “outperform” rating and a $15.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $13.50.

indie Semiconductor Trading Up 3.5 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. The stock has a 50 day moving average price of $6.69 and a 200-day moving average price of $6.65.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. Research analysts anticipate that indie Semiconductor, Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the transaction, the president now owns 31,208 shares of the company’s stock, valued at $211,278.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Michael Wittmann sold 8,700 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $6.95, for a total value of $60,465.00. Following the transaction, the chief operating officer now owns 35,460 shares of the company’s stock, valued at approximately $246,447. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Ichiro Aoki sold 50,000 shares of the company’s 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 transaction, the president now directly owns 31,208 shares in the company, valued at approximately $211,278.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,491 shares of company stock valued at $1,153,936. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently modified their holdings of the business. Granahan Investment Management LLC lifted its stake in shares of indie Semiconductor by 63.3% in the 4th quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after purchasing an additional 5,115,393 shares during the last quarter. Bamco Inc. NY lifted its stake in shares of indie Semiconductor by 88.9% in the 3rd quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock valued at $69,545,000 after purchasing an additional 5,193,775 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of indie Semiconductor by 13.7% in the 4th quarter. Vanguard Group Inc. now owns 10,267,390 shares of the company’s stock valued at $83,269,000 after purchasing an additional 1,239,378 shares during the last quarter. BlackRock Inc. raised its holdings in shares of 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 buying an additional 2,377,645 shares during the period. Finally, State Street Corp raised its holdings in shares of 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 buying an additional 2,715,874 shares during the period. Institutional investors and hedge funds 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.