indie Semiconductor (NASDAQ:INDI) Shares Up 4.5% – Still a Buy?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price shot up 4.5% during mid-day trading on Friday . The company traded as high as $4.66 and last traded at $4.66. 710,107 shares were traded during trading, a decline of 75% from the average session volume of 2,892,230 shares. The stock had previously closed at $4.46.

Analysts Set New Price Targets

Several equities research analysts have commented on INDI shares. Benchmark cut their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Roth Mkm reduced their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $9.79.

indie Semiconductor Trading Down 1.6 %

The company has a quick ratio of 2.20, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $3.76 and a two-hundred day moving average of $5.12.

Insider Transactions at indie Semiconductor

In related news, CEO Donald Mcclymont sold 200,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $86,433.21. This trade represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the sale, the chief financial officer now directly owns 977,192 shares in the company, valued at approximately $3,742,645.36. This represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 278,531 shares of company stock worth $1,242,915 over the last quarter. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds have recently made changes to their positions in INDI. GAMMA Investing LLC increased its holdings in shares of indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after buying an additional 3,906 shares in the last quarter. Xponance Inc. acquired a new stake in shares of indie Semiconductor during the second quarter valued at about $63,000. Creative Planning acquired a new position in shares of indie Semiconductor in the third quarter valued at approximately $75,000. Legato Capital Management LLC acquired a new stake in indie Semiconductor during the 2nd quarter worth approximately $76,000. Finally, SlateStone Wealth LLC acquired a new stake in indie Semiconductor during the 2nd quarter worth approximately $82,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.