indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) shares shot up 6.1% during trading on Tuesday . The company traded as high as $3.74 and last traded at $3.76. 432,393 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 3,849,624 shares. The stock had previously closed at $3.54.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Benchmark reaffirmed a "buy" rating and set a $8.00 price objective (up previously from $6.00) on shares of indie Semiconductor in a research report on Wednesday, June 25th. B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Craig Hallum reduced their target price on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, KeyCorp reduced their target price on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.08.
Read Our Latest Analysis on INDI
indie Semiconductor Stock Up 2.0%
The company has a quick ratio of 4.64, a current ratio of 5.30 and a debt-to-equity ratio of 0.85. The company has a market cap of $819.23 million, a P/E ratio of -5.14 and a beta of 2.20. The company has a fifty day moving average of $2.91 and a 200 day moving average of $3.08.
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 the consensus estimate of ($0.08). The company had revenue of $54.08 million during the quarter, compared to analyst estimates of $54.94 million. indie Semiconductor had a negative return on equity of 27.25% and a negative net margin of 62.64%. indie Semiconductor's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) earnings per share. On average, research analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.
Insider Activity
In other news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $2.59, for a total value of $35,547.75. Following the sale, the chief operating officer directly owned 101,662 shares of the company's stock, valued at approximately $263,304.58. The trade was a 11.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business'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 in the company, valued at $409,910.94. The trade was a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,823 shares of company stock worth $128,088 over the last 90 days. Company insiders own 5.60% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of INDI. Kera Capital Partners Inc. bought a new position in shares of indie Semiconductor during the first quarter valued at approximately $31,000. National Bank of Canada FI grew its stake in shares of indie Semiconductor by 32.7% during the first quarter. National Bank of Canada FI now owns 17,852 shares of the company's stock valued at $36,000 after buying an additional 4,400 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of indie Semiconductor by 36.5% during the first quarter. Hsbc Holdings PLC now owns 19,486 shares of the company's stock valued at $39,000 after buying an additional 5,213 shares during the last quarter. SlateStone Wealth LLC grew its stake in shares of indie Semiconductor by 27.1% during the first quarter. SlateStone Wealth LLC now owns 22,100 shares of the company's stock valued at $45,000 after buying an additional 4,706 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of indie Semiconductor in the first quarter valued at approximately $53,000. Institutional investors own 67.73% of the company's stock.
About indie Semiconductor
(
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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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