indie Semiconductor (NASDAQ:INDI) Stock Price Up 5.1% - What's Next?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report)'s share price shot up 5.1% during trading on Tuesday . The company traded as high as $4.23 and last traded at $4.04. 1,905,223 shares were traded during mid-day trading, a decline of 51% from the average session volume of 3,867,021 shares. The stock had previously closed at $3.84.

Analysts Set New Price Targets

A number of research firms have commented on INDI. Benchmark reaffirmed a "buy" rating and issued a $8.00 price objective (up previously from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. KeyCorp reduced their price target on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Craig Hallum reduced their price target on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.08.

indie Semiconductor Trading Down 4.9%

The company has a market cap of $994.55 million, a price-to-earnings ratio of -6.24 and a beta of 2.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64. The firm's fifty day moving average price is $3.25 and its 200-day moving average price is $3.09.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The company had revenue of $54.08 million for the quarter, compared to the consensus estimate of $54.94 million. During the same period in the previous year, the firm earned ($0.10) EPS. indie Semiconductor's revenue was up 3.2% on a year-over-year basis. On average, equities analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other indie Semiconductor news, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the sale, the director directly owned 119,857 shares in the company, valued at approximately $409,910.94. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 13,725 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $2.59, for a total transaction of $35,547.75. Following the completion of the sale, the chief operating officer owned 101,662 shares in the company, valued at approximately $263,304.58. This trade represents a 11.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,823 shares of company stock worth $128,088. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of INDI. Charles Schwab Investment Management Inc. raised its holdings in indie Semiconductor by 8.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company's stock worth $5,796,000 after buying an additional 112,793 shares during the period. Raymond James Financial Inc. acquired a new stake in indie Semiconductor during the 4th quarter worth about $421,000. Swiss National Bank raised its holdings in indie Semiconductor by 13.1% during the 4th quarter. Swiss National Bank now owns 352,700 shares of the company's stock worth $1,428,000 after buying an additional 40,900 shares during the period. Royce & Associates LP acquired a new stake in indie Semiconductor during the 4th quarter worth about $2,491,000. Finally, Cibc World Markets Corp acquired a new stake in indie Semiconductor during the 4th quarter worth about $62,000. 67.73% of the stock is currently owned by 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.