indie Semiconductor, Inc. (NASDAQ:INDI – Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 23,210,000 shares, an increase of 8.3% from the March 15th total of 21,430,000 shares. Currently, 15.2% of the company’s shares are short sold. Based on an average trading volume of 2,430,000 shares, the short-interest ratio is presently 9.6 days.
indie Semiconductor Stock Up 1.0 %
NASDAQ INDI opened at $5.91 on Wednesday. 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’s fifty day moving average price is $6.69 and its 200 day moving average price is $6.67. indie Semiconductor has a 1 year low of $4.67 and a 1 year high of $10.85.
indie Semiconductor (NASDAQ:INDI – Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating 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 business had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. As a group, analysts anticipate that indie Semiconductor will post -0.42 EPS for the current fiscal year.
Insider Activity at indie Semiconductor
Institutional Trading of indie Semiconductor
Several institutional investors and hedge funds have recently bought and sold shares of INDI. Legal & General Group Plc lifted its position in indie Semiconductor by 3.6% during the fourth quarter. Legal & General Group Plc now owns 31,091 shares of the company’s stock valued at $181,000 after purchasing an additional 1,066 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of indie Semiconductor by 7.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,729 shares of the company’s stock valued at $103,000 after buying an additional 1,181 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of indie Semiconductor by 4.5% in the first quarter. Commonwealth Equity Services LLC now owns 29,888 shares of the company’s stock worth $315,000 after buying an additional 1,297 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of indie Semiconductor by 3.3% in the first quarter. Cresset Asset Management LLC now owns 42,975 shares of the company’s stock worth $453,000 after buying an additional 1,385 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel grew its holdings in indie Semiconductor by 24.2% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after acquiring an additional 1,610 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on INDI. KeyCorp decreased their price objective 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. Craig Hallum decreased their target price on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, indie Semiconductor presently has a consensus rating of “Buy” and an average price target of $13.50.
View Our Latest Analysis on INDI
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.
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