indie Semiconductor (NASDAQ:INDI) Stock Price Up 6.5% – Here’s What Happened

indie Semiconductor, Inc. (NASDAQ:INDI) shares traded up 6.5% during trading on Thursday . The stock traded as high as $4.09 and last traded at $4.08. 5,034,755 shares were traded during mid-day trading, an increase of 59% from the average session volume of 3,161,750 shares. The stock had previously closed at $3.83.

Wall Street Analyst Weigh In

INDI has been the topic of a number of research analyst reports. Benchmark decreased their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Roth Mkm reduced their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Six 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 a consensus price target of $8.92.

indie Semiconductor Stock Up 8.1 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The company has a 50 day moving average price of $4.07 and a 200 day moving average price of $4.98.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This trade represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INDI. Price T Rowe Associates Inc. MD increased its holdings in indie Semiconductor by 14.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock valued at $306,000 after purchasing an additional 5,394 shares during the last quarter. GAMMA Investing LLC grew its position 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 buying an additional 3,906 shares during the period. SG Americas Securities LLC bought a new stake in shares of indie Semiconductor in the 2nd quarter valued at about $156,000. Tempus Wealth Planning LLC raised its position in shares of indie Semiconductor by 30.6% in the 2nd quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock valued at $138,000 after acquiring an additional 5,238 shares during the period. Finally, Calamos Advisors LLC bought a new position in indie Semiconductor during the 2nd quarter worth approximately $478,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

About indie Semiconductor

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.