indie Semiconductor (NASDAQ:INDI) Stock Price Up 5.5%

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) traded up 5.5% on Friday . The company traded as high as $6.55 and last traded at $6.54. 443,971 shares traded hands during trading, a decline of 83% from the average session volume of 2,675,108 shares. The stock had previously closed at $6.20.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on INDI shares. B. Riley reissued a “buy” rating and issued a $13.50 price target (down from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Craig Hallum cut their price target on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. KeyCorp decreased their price target on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $12.64.

indie Semiconductor Trading Up 5.6 %

The stock’s 50 day simple moving average is $6.15 and its 200 day simple moving average is $6.74. The firm has a market cap of $1.22 billion, a PE ratio of -13.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.74.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The company had revenue of $70.13 million during the quarter, compared to analyst estimates of $72.69 million. On average, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total transaction of $312,500.00. Following the transaction, the chief executive officer now directly owns 76,750 shares in the company, valued at approximately $479,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Michael Wittmann sold 8,700 shares of indie Semiconductor stock in a transaction on Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the transaction, the chief operating officer now owns 35,460 shares in the company, valued at approximately $246,447. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the sale, the chief executive officer now owns 76,750 shares of the company’s stock, valued at $479,687.50. The disclosure for this sale can be found here. Insiders sold a total of 173,673 shares of company stock valued at $1,082,541 over the last 90 days. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INDI. Bamco Inc. NY grew its position in indie Semiconductor by 28.0% during the 1st quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock worth $101,144,000 after acquiring an additional 3,121,255 shares during the last quarter. Granahan Investment Management LLC boosted its stake in shares of indie Semiconductor by 63.3% during the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after purchasing an additional 5,115,393 shares during the period. Vanguard Group Inc. grew its holdings in shares of indie Semiconductor by 3.2% in the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after purchasing an additional 332,500 shares during the last quarter. Primecap Management Co. CA raised its holdings in indie Semiconductor by 20.7% during the 4th quarter. Primecap Management Co. CA now owns 5,060,480 shares of the company’s stock valued at $41,040,000 after buying an additional 867,180 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in indie Semiconductor by 40.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock valued at $25,453,000 after buying an additional 902,530 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.