indie Semiconductor (NASDAQ:INDI) Trading Up 4.8%

indie Semiconductor, Inc. (NASDAQ:INDI) shares were up 4.8% on Wednesday . The company traded as high as $5.57 and last traded at $5.46. Approximately 976,906 shares were traded during trading, a decline of 63% from the average daily volume of 2,649,077 shares. The stock had previously closed at $5.21.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INDI shares. KeyCorp lowered 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 report 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 on the stock in a report on Friday, February 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $13.50.

indie Semiconductor Trading Down 1.3 %

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’s fifty day simple moving average is $6.44 and its two-hundred day simple moving average is $6.64.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Equities analysts expect that indie Semiconductor, Inc. will post -0.42 EPS for the current fiscal year.

Insider Activity

In other news, 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 sale, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at approximately $246,447. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Michael Wittmann sold 8,700 shares of the company’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 transaction of $60,465.00. Following the sale, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at approximately $246,447. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Ichiro Aoki sold 50,000 shares of the company’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 transaction of $338,500.00. Following the sale, the president now directly owns 31,208 shares in the company, valued at $211,278.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,323 shares of company stock valued at $740,444. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its stake in indie Semiconductor by 269.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock worth $50,000 after buying an additional 4,470 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of indie Semiconductor by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after purchasing an additional 2,000 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of indie Semiconductor in the 1st quarter valued at approximately $53,000. Psagot Value Holdings Ltd. Israel increased its position in shares of indie Semiconductor by 24.2% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock valued at $69,000 after purchasing an additional 1,610 shares during the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of indie Semiconductor in the 4th quarter valued at approximately $82,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.