indie Semiconductor (NASDAQ:INDI) Trading Up 6.1% - What's Next?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) shares rose 6.1% on Tuesday . The stock traded as high as $3.74 and last traded at $3.76. Approximately 432,393 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,849,624 shares. The stock had previously closed at $3.54.

Wall Street Analyst Weigh In

INDI has been the topic of several recent research reports. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Benchmark reaffirmed a "buy" rating and set a $8.00 target price (up from $6.00) on shares of indie Semiconductor in a research note on Wednesday, June 25th. KeyCorp cut their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Craig Hallum dropped 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.08.

indie Semiconductor Price Performance

The business's 50 day simple moving average is $2.88 and its 200 day simple moving average is $3.08. The company has a quick ratio of 4.64, a current ratio of 5.30 and a debt-to-equity ratio of 0.85.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $54.94 million. During the same quarter last year, the business posted ($0.10) EPS. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity at indie Semiconductor

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

Institutional Trading of indie Semiconductor

Large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of indie Semiconductor by 12.4% in the 4th quarter. Barclays PLC now owns 288,715 shares of the company's stock valued at $1,169,000 after acquiring an additional 31,916 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of indie Semiconductor by 8.6% in 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 acquiring an additional 112,793 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of indie Semiconductor by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock valued at $50,970,000 after acquiring an additional 942,088 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of indie Semiconductor by 14.3% in 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 during the period. Finally, Two Sigma Investments LP acquired a new position in shares of indie Semiconductor in the 4th quarter valued at $386,000. 67.73% of the stock is owned by hedge funds and other 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.