indie Semiconductor (NASDAQ:INDI) Trading 8.5% Higher - Still a Buy?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) rose 8.5% during mid-day trading on Tuesday . The company traded as high as $2.63 and last traded at $2.63. Approximately 1,433,780 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 3,710,802 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. KeyCorp decreased 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. Benchmark reaffirmed a "buy" rating and issued a $6.00 price objective on shares of indie Semiconductor in a report on Wednesday, May 21st. Craig Hallum reduced their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Finally, B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, indie Semiconductor has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

indie Semiconductor Trading Up 7.2%

The stock has a market cap of $551.47 million, a PE ratio of -3.41 and a beta of 2.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The company has a 50 day moving average of $2.13 and a two-hundred day moving average of $3.36.

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, 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 net margin of 61.59% and a negative return on equity of 28.08%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Michael Wittmann sold 10,875 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the completion of the sale, the chief operating officer now owns 77,887 shares of the company's stock, valued at $218,862.47. This represents a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the firm's 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 transaction, the chief executive officer now directly owns 65,932 shares in the company, valued at approximately $205,707.84. This represents a 43.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,277 shares of company stock worth $434,192 in the last 90 days. Insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently made changes to their positions in INDI. Primecap Management Co. CA boosted its stake in 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 during the last quarter. Bamco Inc. NY raised its holdings in shares of indie Semiconductor by 30.6% during the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock worth $80,602,000 after acquiring an additional 4,661,220 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of indie Semiconductor by 60.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock valued at $70,366,000 after acquiring an additional 6,517,978 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $26,060,000 after purchasing an additional 220,737 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of indie Semiconductor by 23.1% in the first quarter. Harbor Capital Advisors Inc. now owns 4,102,127 shares of the company's stock valued at $8,348,000 after purchasing an additional 768,907 shares during the period. 67.73% of the stock is currently 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.

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