indie Semiconductor (NASDAQ:INDI) Trading Up 5.1% - Time to Buy?

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. B. Riley restated a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Craig Hallum cut their price target on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. 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. Finally, Benchmark reaffirmed a "buy" rating and issued a $8.00 price objective (up from $6.00) on shares of indie Semiconductor in a research note on Wednesday, June 25th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $6.08.

indie Semiconductor Price Performance

The firm has a market capitalization of $949.92 million, a P/E ratio of -5.96 and a beta of 2.20. The firm has a 50 day moving average price of $3.15 and a 200-day moving average price of $3.08. The company has a current ratio of 5.30, a quick ratio of 4.64 and a debt-to-equity ratio of 0.85.

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

Insider Buying and Selling

In related news, COO Michael Wittmann sold 13,725 shares of the firm's stock in a transaction that occurred on 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 directly owned 101,662 shares of the company's stock, valued at approximately $263,304.58. This trade represents a 11.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was 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 of the company's stock, valued at $409,910.94. This represents a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,823 shares of company stock valued at $128,088 over the last three months. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of INDI. Barclays PLC raised its position in indie Semiconductor by 12.4% during the 4th quarter. Barclays PLC now owns 288,715 shares of the company's stock valued at $1,169,000 after purchasing an additional 31,916 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 valued at $5,796,000 after purchasing an additional 112,793 shares in the last quarter. Vanguard Group Inc. raised its position in indie Semiconductor by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock valued at $50,970,000 after purchasing an additional 942,088 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in indie Semiconductor by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company's stock valued at $1,069,000 after purchasing an additional 32,979 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in indie Semiconductor by 56.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,736 shares of the company's stock valued at $326,000 after purchasing an additional 55,872 shares in the last quarter. 67.73% of the stock is 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.