Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) traded up 11.7% during mid-day trading on Tuesday . The company traded as high as $4.18 and last traded at $4.35. 542,355 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 4,020,458 shares. The stock had previously closed at $3.89.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. KeyCorp decreased their price objective on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Benchmark reissued a "buy" rating and issued a $8.00 price objective (up from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. Finally, Craig Hallum decreased their price target on 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, indie Semiconductor currently has a consensus rating of "Moderate Buy" and an average price target of $5.90.
Check Out Our Latest Report on indie Semiconductor
indie Semiconductor Trading Down 3.6%
The business has a 50 day simple moving average of $3.84 and a 200-day simple moving average of $3.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.64 and a current ratio of 4.34. The stock has a market capitalization of $960.55 million, a P/E ratio of -5.38 and a beta of 2.23.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). The firm had revenue of $51.63 million during the quarter, compared to analyst estimates of $51.40 million. indie Semiconductor had a negative return on equity of 28.43% and a negative net margin of 71.98%. The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. On average, analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.
Insider Buying and Selling at indie Semiconductor
In other news, Director Sonalee Elizabeth Parekh sold 11,841 shares of the firm's stock in a transaction on Monday, June 16th. The stock was 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 of the company's stock, valued at $409,910.94. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael Wittmann sold 13,725 shares of the firm's stock in a transaction on 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. This represents a 11.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,823 shares of company stock valued at $128,088. Corporate insiders own 5.60% of the company's stock.
Institutional Investors Weigh In On indie Semiconductor
Several large investors have recently modified their holdings of INDI. Kera Capital Partners Inc. purchased a new stake in shares of indie Semiconductor during the first quarter worth $31,000. Nisa Investment Advisors LLC raised its holdings in shares of indie Semiconductor by 356.3% during the second quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company's stock worth $34,000 after acquiring an additional 7,536 shares in the last quarter. National Bank of Canada FI raised its holdings 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 worth $36,000 after acquiring an additional 4,400 shares in the last quarter. Ethic Inc. purchased a new stake in shares of indie Semiconductor during the second quarter worth $36,000. Finally, Hsbc Holdings PLC raised its holdings 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 worth $39,000 after acquiring an additional 5,213 shares in the last quarter. 67.73% of the stock is owned by institutional investors.
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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