indie Semiconductor (NASDAQ:INDI) Shares Up 4.8%

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INDI. KeyCorp decreased their price target on shares of 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 reduced their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $13.50.

indie Semiconductor Stock Performance

The business’s 50 day simple moving average is $6.52 and its two-hundred day simple moving average is $6.66. The firm has a market capitalization of $985.72 million, a P/E ratio of -6.51 and a beta of 1.15. The company has a current ratio of 1.96, a quick ratio of 1.72 and a debt-to-equity ratio of 0.33.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. The firm had revenue of $70.13 million during the quarter, compared to analyst estimates of $72.69 million. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.42 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the sale, the chief executive officer now directly owns 76,750 shares in the company, valued at $479,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now owns 76,750 shares of the company’s stock, valued at $479,687.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Wittmann sold 8,700 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 35,460 shares in the company, valued at approximately $246,447. The disclosure for this sale can be found here. Insiders sold 113,323 shares of company stock worth $740,444 over the last three months. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently bought and sold shares of INDI. Nisa Investment Advisors LLC increased its position in indie Semiconductor by 269.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock worth $50,000 after purchasing an additional 4,470 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in indie Semiconductor in the first quarter worth $53,000. Newbridge Financial Services Group Inc. increased its position in indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after purchasing an additional 2,000 shares during the last quarter. Psagot Value Holdings Ltd. Israel increased its position in indie Semiconductor by 24.2% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after purchasing an additional 1,610 shares during the last quarter. Finally, Tempus Wealth Planning LLC bought a new stake in indie Semiconductor in the third quarter worth $72,000. 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.