indie Semiconductor (NASDAQ:INDI) Shares Up 4%

indie Semiconductor, Inc. (NASDAQ:INDI) shot up 4% during trading on Tuesday . The company traded as high as $3.36 and last traded at $3.35. 577,896 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,765,270 shares. The stock had previously closed at $3.22.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Roth Mkm dropped their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $12.00 price objective on shares of indie Semiconductor in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $10.50.

indie Semiconductor Trading Up 0.6 %

The firm has a market cap of $639.64 million, a price-to-earnings ratio of -6.57 and a beta of 1.20. The firm’s 50-day moving average is $5.17 and its 200-day moving average is $5.97. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) EPS. As a group, sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.7 EPS for the current fiscal year.

Insider Activity at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total transaction of $75,800.00. Following the completion of the transaction, the director now owns 75,185 shares in the company, valued at $569,902.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The disclosure for this sale can be found here. In the last three months, insiders sold 366,882 shares of company stock valued at $2,193,120. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA increased its position in indie Semiconductor by 93.5% in the second quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company’s stock worth $97,357,000 after buying an additional 7,624,797 shares during the last quarter. Granahan Investment Management LLC raised its stake in 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 lifted its holdings in indie Semiconductor by 28.0% during the first quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock valued at $101,144,000 after purchasing an additional 3,121,255 shares during the last quarter. Intrinsic Edge Capital Management LLC boosted its position in indie Semiconductor by 132.5% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock worth $23,466,000 after purchasing an additional 1,648,818 shares during the period. Finally, UBS Group AG increased its stake in shares of indie Semiconductor by 4,346.7% in the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock worth $12,041,000 after purchasing an additional 1,451,308 shares in the last quarter. Hedge funds and other 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.