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

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

Analyst Ratings Changes

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

indie Semiconductor Stock Down 0.3%

The firm has a fifty day moving average price of $3.03 and a 200 day moving average price of $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. The company has a market cap of $818.16 million, a P/E ratio of -5.13 and a beta of 2.20.

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 the consensus estimate of ($0.08). The business had revenue of $54.08 million for the quarter, compared to the consensus estimate of $54.94 million. indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The firm's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) EPS. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Activity at indie Semiconductor

In related news, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the completion of the transaction, the director owned 119,857 shares in the company, valued at $409,910.94. The trade was a 8.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total value 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 $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. Insiders have sold 43,823 shares of company stock worth $128,088 over the last three months. 5.60% of the stock is owned by insiders.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Barclays PLC grew its position in shares of indie Semiconductor by 12.4% during the 4th quarter. Barclays PLC now owns 288,715 shares of the company's stock worth $1,169,000 after buying an additional 31,916 shares during the period. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 112,793 shares during the period. Vanguard Group Inc. grew its holdings in indie Semiconductor by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock worth $50,970,000 after acquiring an additional 942,088 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 acquiring an additional 32,979 shares during the last quarter. 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 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.