indie Semiconductor, Inc. (NASDAQ:INDI) Director Sells $40,496.22 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) Director Sonalee Elizabeth Parekh sold 11,841 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the completion of the transaction, the director now owns 119,857 shares of the company's stock, valued at $409,910.94. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

indie Semiconductor Stock Up 1.6%

INDI stock traded up $0.05 during trading on Wednesday, reaching $3.21. The stock had a trading volume of 2,880,412 shares, compared to its average volume of 3,764,610. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $7.45. The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.64 and a current ratio of 5.30. The firm has a fifty day moving average price of $2.43 and a 200 day moving average price of $3.16.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). The firm had revenue of $54.08 million for the quarter, compared to analyst estimates of $54.94 million. indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. As a group, sell-side analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on INDI. Benchmark reiterated a "buy" rating and issued a $6.00 price target on shares of indie Semiconductor in a report on Wednesday, June 11th. KeyCorp cut their price target on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Craig Hallum lowered their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, B. Riley reissued a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, indie Semiconductor has a consensus rating of "Moderate Buy" and an average price target of $5.75.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fred Alger Management LLC acquired a new stake in indie Semiconductor during the first quarter worth about $2,527,000. Nexpoint Asset Management L.P. raised its stake in indie Semiconductor by 43.7% during the first quarter. Nexpoint Asset Management L.P. now owns 165,959 shares of the company's stock worth $338,000 after acquiring an additional 50,459 shares during the period. Millennium Management LLC raised its stake in indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock worth $7,535,000 after acquiring an additional 3,037,435 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in indie Semiconductor by 42.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company's stock worth $2,040,000 after acquiring an additional 298,339 shares during the period. Finally, Royal Bank of Canada raised its stake in indie Semiconductor by 309.7% during the first quarter. Royal Bank of Canada now owns 551,007 shares of the company's stock worth $1,122,000 after acquiring an additional 416,519 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.

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