indie Semiconductor (NASDAQ:INDI) Shares Up 4.8%

indie Semiconductor, Inc. (NASDAQ:INDI) shares traded up 4.8% on Wednesday . The company traded as high as $5.57 and last traded at $5.46. 976,906 shares traded hands 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Craig Hallum reduced their target price on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. KeyCorp dropped their price target on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor has a consensus rating of “Buy” and an average price target of $13.50.

indie Semiconductor Stock Up 3.3 %

The company has a quick ratio of 1.72, a current ratio of 1.96 and a debt-to-equity ratio of 0.33. The firm has a market cap of $985.72 million, a PE ratio of -6.51 and a beta of 1.15. The firm’s 50 day moving average is $6.52 and its 200-day moving average is $6.66.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.04. The business had revenue of $70.13 million for the quarter, compared to the consensus estimate of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. As a group, equities research analysts expect that indie Semiconductor, Inc. will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other indie Semiconductor news, COO Michael Wittmann sold 8,700 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $6.95, for a total transaction of $60,465.00. Following the transaction, the chief operating officer now owns 35,460 shares of the company’s stock, valued at $246,447. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, President Ichiro Aoki sold 50,000 shares of the firm’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 transaction, the president now owns 31,208 shares of the company’s stock, valued at approximately $211,278.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Wittmann sold 8,700 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were 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 have sold a total of 113,323 shares of company stock valued at $740,444 over the last quarter. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of hedge funds have recently made changes to their positions in the business. Granahan Investment Management LLC raised 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 acquiring an additional 5,115,393 shares during the period. Bamco Inc. NY grew its holdings in indie Semiconductor by 88.9% during 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 in the last quarter. Vanguard Group Inc. grew its holdings in indie Semiconductor by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,028,012 shares of the company’s stock valued at $56,876,000 after purchasing an additional 763,140 shares in the last quarter. Primecap Management Co. CA grew its holdings in indie Semiconductor by 20.7% during the 4th quarter. Primecap Management Co. CA now owns 5,060,480 shares of the company’s stock valued at $41,040,000 after purchasing an additional 867,180 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in indie Semiconductor by 40.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock valued at $25,453,000 after purchasing an additional 902,530 shares in the last quarter. Hedge funds and other institutional investors 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.