indie Semiconductor (NASDAQ:INDI) Director David Aldrich Purchases 130,000 Shares of Stock

Key Points

• Director David Aldrich bought 130,000 shares for $299,000 at an average price of $2.30, increasing his stake by 49.36% to 393,392 shares.
• Quarterly revenue rose 30.8% year over year to $70.24 million, slightly above expectations, while the company’s loss of $0.05 per share was wider than analysts’ forecast.
• Analysts’ consensus rating is Hold, with a $3.94 average price target; shares recently traded at $2.10.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) Director David Aldrich purchased 130,000 shares of the stock in a transaction dated Wednesday, November 11th. The shares were purchased at an average cost of $2.30 per share, for a total transaction of $299,000.00. Following the completion of the acquisition, the director directly owned 393,392 shares in the company, valued at approximately $904,801.60. This trade represents a 49.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

indie Semiconductor Stock Performance

Shares of INDI stock traded down $0.08 on Friday, reaching $2.10. The stock had a trading volume of 3,488,953 shares, compared to its average volume of 7,515,079. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.86 and a current ratio of 3.37. indie Semiconductor, Inc. has a 1 year low of $1.34 and a 1 year high of $5.49. The stock has a market cap of $505.68 million, a P/E ratio of -2.92 and a beta of 3.10. The company has a 50 day simple moving average of $2.46 and a 200 day simple moving average of $3.43.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). indie Semiconductor had a negative net margin of 61.02% and a negative return on equity of 34.86%. The firm had revenue of $70.24 million for the quarter, compared to analysts' expectations of $70.21 million. During the same quarter last year, the company posted ($0.07) EPS. The firm's revenue was up 30.8% compared to the same quarter last year. Equities research analysts expect that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INDI. Granahan Investment Management LLC grew its stake in shares of indie Semiconductor by 17.8% during the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company's stock valued at $65,314,000 after acquiring an additional 3,067,255 shares during the period. Elemental Capital Partners LLC increased its holdings in indie Semiconductor by 0.5% in the 3rd quarter. Elemental Capital Partners LLC now owns 13,372,249 shares of the company's stock worth $39,114,000 after acquiring an additional 62,806 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in indie Semiconductor by 19.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,776 shares of the company's stock worth $6,033,000 after acquiring an additional 308,620 shares in the last quarter. Moody National Bank Trust Division raised its stake in indie Semiconductor by 5.3% during the 2nd quarter. Moody National Bank Trust Division now owns 997,024 shares of the company's stock worth $4,477,000 after acquiring an additional 50,364 shares during the period. Finally, Bank of America Corp DE raised its stake in indie Semiconductor by 0.9% during the 1st quarter. Bank of America Corp DE now owns 875,146 shares of the company's stock worth $2,818,000 after acquiring an additional 7,875 shares during the period. Institutional investors own 67.73% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on INDI shares. B. Riley Financial reduced their price target on shares of indie Semiconductor from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, November 6th. TD Cowen dropped their price objective on shares of indie Semiconductor from $4.50 to $2.00 and set a "hold" rating on the stock in a report on Monday, October 19th. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Thursday, October 15th. Finally, Roth Capital set a $5.00 target price on shares of indie Semiconductor in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, indie Semiconductor has an average rating of "Hold" and a consensus price target of $3.94.

indie Semiconductor Company Profile

indie Semiconductor, Inc. is a fabless semiconductor company that develops automotive technologies for advanced driver-assistance systems (ADAS), automated driving, in-cabin experiences, vehicle connectivity and electrification. Its products combine analog and mixed-signal circuits with digital processing and software for use in vehicle systems. The company's offerings support applications such as radar, lidar, computer vision, ultrasonic sensing, audio and vehicle networking. Automakers and automotive suppliers use its technologies to help enable sensing, safety and other electronic functions in vehicles.

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