indie Semiconductor (NASDAQ:INDI) Shares Up 4.3%

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

Analysts Set New Price Targets

Several equities analysts have weighed in on INDI shares. CJS Securities initiated coverage on indie Semiconductor in a research report on Friday, December 1st. They issued an “outperform” rating and a $15.00 target price for the company. Craig Hallum lowered 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, KeyCorp lowered their price objective 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. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $13.50.

indie Semiconductor Price Performance

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

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04. The firm had revenue of $70.13 million during the quarter, compared to analysts’ expectations of $72.69 million. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. On average, sell-side analysts predict that indie Semiconductor, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 8,700 shares of the business’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 value of $60,465.00. Following the completion of the sale, the chief operating officer now owns 35,460 shares in the company, valued at $246,447. The sale was disclosed in a document filed with the SEC, which is available through this link. In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $6.77, for a total value of $338,500.00. Following the completion of the sale, the president now owns 31,208 shares in the company, valued at $211,278.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Michael Wittmann sold 8,700 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the completion of the sale, the chief operating officer now owns 35,460 shares of the company’s stock, valued at approximately $246,447. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,491 shares of company stock worth $1,153,936. 9.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Granahan Investment Management LLC increased its holdings in shares of indie Semiconductor by 63.3% in the fourth 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 period. Bamco Inc. NY grew its holdings in indie Semiconductor by 88.9% during the third quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock worth $69,545,000 after acquiring an additional 5,193,775 shares during the period. Vanguard Group Inc. grew its holdings in indie Semiconductor by 13.7% during the fourth quarter. Vanguard Group Inc. now owns 10,267,390 shares of the company’s stock worth $83,269,000 after acquiring an additional 1,239,378 shares during the period. BlackRock Inc. grew its holdings in indie Semiconductor by 36.7% during the second quarter. BlackRock Inc. now owns 8,849,734 shares of the company’s stock worth $83,187,000 after acquiring an additional 2,377,645 shares during the period. Finally, State Street Corp grew its holdings in indie Semiconductor by 64.2% during the second quarter. State Street Corp now owns 6,943,221 shares of the company’s stock worth $65,266,000 after acquiring an additional 2,715,874 shares during the period. 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.