indie Semiconductor (NASDAQ:INDI) Sees Large Volume Increase

indie Semiconductor, Inc. (NASDAQ:INDI) saw unusually-strong trading volume on Monday . Approximately 5,066,698 shares traded hands during trading, an increase of 98% from the previous session’s volume of 2,557,116 shares.The stock last traded at $5.17 and had previously closed at $5.36.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on INDI shares. Craig Hallum decreased their price objective on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. KeyCorp decreased their price objective on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $13.50.

indie Semiconductor Stock Performance

The company has a fifty day moving average of $6.52 and a two-hundred day moving average of $6.66. The company has a current ratio of 1.96, a quick ratio of 1.72 and a debt-to-equity ratio of 0.33.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. The company had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Michael Wittmann sold 8,700 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $6.95, for a total transaction of $60,465.00. Following the transaction, the chief operating officer now owns 35,460 shares of the company’s stock, valued at approximately $246,447. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value 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 disclosure for this sale can be found here. Insiders have sold 113,323 shares of company stock valued at $740,444 in the last quarter. 9.90% of the stock is owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Psagot Value Holdings Ltd. Israel lifted its holdings in shares of indie Semiconductor by 24.2% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after purchasing an additional 1,610 shares during the period. Newbridge Financial Services Group Inc. raised its position in indie Semiconductor by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after acquiring an additional 2,000 shares in the last quarter. Arizona State Retirement System raised its position in indie Semiconductor by 6.3% during the fourth quarter. Arizona State Retirement System now owns 36,447 shares of the company’s stock valued at $296,000 after acquiring an additional 2,167 shares in the last quarter. Daiwa Securities Group Inc. raised its position in indie Semiconductor by 29.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 11,133 shares of the company’s stock valued at $90,000 after acquiring an additional 2,558 shares in the last quarter. Finally, Redwood Wealth Management Group LLC raised its position in indie Semiconductor by 5.2% during the third quarter. Redwood Wealth Management Group LLC now owns 52,500 shares of the company’s stock valued at $331,000 after acquiring an additional 2,600 shares in the last quarter. 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.