indie Semiconductor (NASDAQ:INDI) Sees Large Volume Increase - What's Next?

Key Points

• Unusually-high trading volume: About 4.63 million shares changed hands (an 8% increase vs. the prior session) and the stock traded around $4.1750 intraday versus a $3.66 close.
• Mixed analyst view but positive consensus: Four analysts rate the stock a Buy, one Hold and one Sell, producing a consensus rating of "Moderate Buy" and a $6.45 average price target.
• Profitability and insider selling: indie is still unprofitable (Q EPS -$0.07, negative 66.23% net margin) and insiders have sold 619,182 shares in the last 90 days (≈$1.9M), while insiders own 5.6% of shares.

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) saw unusually-high trading volume on Monday . Approximately 4,627,827 shares traded hands during mid-day trading, an increase of 8% from the previous session's volume of 4,300,902 shares.The stock last traded at $4.1750 and had previously closed at $3.66.

Analyst Ratings Changes

INDI has been the topic of a number of research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. UBS Group set a $4.25 target price on shares of indie Semiconductor in a report on Sunday, February 22nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.45.

indie Semiconductor Stock Performance

The business's fifty day moving average price is $3.08 and its two-hundred day moving average price is $3.84. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. The stock has a market capitalization of $875.63 million, a P/E ratio of -5.38 and a beta of 2.56.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. During the same period in the previous year, the firm posted ($0.07) EPS. The business's quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.44 earnings per share for the current year.

Insider Buying and Selling at indie Semiconductor

In related news, COO Michael Wittmann sold 18,750 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $2.54, for a total transaction of $47,625.00. Following the transaction, the chief operating officer directly owned 130,135 shares in the company, valued at approximately $330,542.90. This represents a 12.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Ichiro Aoki sold 50,000 shares of the company's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $3.17, for a total transaction of $158,500.00. Following the transaction, the president owned 100,952 shares in the company, valued at $320,017.84. The trade was a 33.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 619,182 shares of company stock valued at $1,906,388. Corporate insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC bought a new position in indie Semiconductor during the 2nd quarter valued at about $37,000. Gainplan LLC bought a new position in indie Semiconductor during the 4th quarter valued at about $39,000. Caitong International Asset Management Co. Ltd grew its holdings in indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company's stock valued at $39,000 after purchasing an additional 10,999 shares during the last quarter. Jump Financial LLC bought a new position in indie Semiconductor during the 2nd quarter valued at about $39,000. Finally, HBK Sorce Advisory LLC bought a new position in indie Semiconductor during the 3rd quarter valued at about $41,000. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Company Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie's product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.

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