indie Semiconductor (NASDAQ:INDI) Trading 10.5% Higher – Should You Buy?

indie Semiconductor, Inc. (NASDAQ:INDI) shares rose 10.5% on Wednesday . The company traded as high as $4.34 and last traded at $4.31. Approximately 1,342,989 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 4,268,646 shares. The stock had previously closed at $3.90.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Benchmark reduced their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Roth Mkm reduced their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor has a consensus rating of “Buy” and a consensus price target of $8.92.

indie Semiconductor Price Performance

The firm has a market capitalization of $898.53 million, a price-to-earnings ratio of -6.64 and a beta of 1.41. The company’s 50 day moving average is $4.42 and its 200 day moving average is $4.48. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Insiders Place Their Bets

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at $79,092.81. This represents a 73.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the transaction, the chief operating officer now owns 28,860 shares of the company’s stock, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,593 shares of company stock worth $1,272,291 in the last quarter. Corporate 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 the company. FNY Investment Advisers LLC bought a new stake in shares of indie Semiconductor during the 4th quarter worth $74,000. Moody National Bank Trust Division lifted its stake in indie Semiconductor by 2.3% in the 4th quarter. Moody National Bank Trust Division now owns 650,810 shares of the company’s stock valued at $2,636,000 after purchasing an additional 14,500 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in indie Semiconductor by 4.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,333,220 shares of the company’s stock valued at $13,500,000 after buying an additional 137,310 shares in the last quarter. 272 Capital LP bought a new stake in shares of indie Semiconductor during the third quarter worth $511,000. Finally, American Trust increased its holdings in shares of indie Semiconductor by 28.2% during the third quarter. American Trust now owns 28,976 shares of the company’s stock worth $116,000 after buying an additional 6,375 shares in 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.