indie Semiconductor (NASDAQ:INDI) Trading 14.4% Higher - Should You Buy?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) shot up 14.4% during mid-day trading on Monday . The company traded as high as $2.70 and last traded at $2.67. 1,215,359 shares were traded during mid-day trading, a decline of 68% from the average session volume of 3,837,670 shares. The stock had previously closed at $2.33.

Analysts Set New Price Targets

INDI has been the subject of a number of research reports. Benchmark decreased their target price 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. UBS Group assumed coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They set a "neutral" rating and a $4.50 target price for the company. Craig Hallum lowered their price target on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Finally, KeyCorp lowered 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

indie Semiconductor Trading Down 2.9%

The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $562.93 million, a price-to-earnings ratio of -3.55 and a beta of 2.01. The business's fifty day moving average is $2.12 and its 200 day moving average is $3.41.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $54.08 million during the quarter, compared to analysts' expectations of $54.94 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. During the same period in the prior year, the firm posted ($0.10) earnings per share. The business's quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Michael Wittmann sold 10,875 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $2.81, for a total transaction of $30,558.75. Following the transaction, the chief operating officer now owns 77,887 shares in the company, valued at approximately $218,862.47. This trade represents a 12.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the completion of the sale, the chief executive officer now owns 65,932 shares of the company's stock, valued at $205,707.84. This trade represents a 43.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,277 shares of company stock worth $434,192. Company insiders own 8.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INDI. Primecap Management Co. CA increased its holdings in shares of indie Semiconductor by 8.9% during the first quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock worth $58,249,000 after buying an additional 2,335,620 shares in the last quarter. Bamco Inc. NY increased its position in indie Semiconductor by 30.6% in the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock valued at $80,602,000 after buying an additional 4,661,220 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in indie Semiconductor by 60.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock worth $70,366,000 after buying an additional 6,517,978 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of indie Semiconductor by 1.8% in the first quarter. Vanguard Group Inc. now owns 12,805,999 shares of the company's stock worth $26,060,000 after purchasing an additional 220,737 shares during the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of indie Semiconductor by 482.7% in the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company's stock valued at $26,486,000 after purchasing an additional 5,417,296 shares during 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.