indie Semiconductor (NASDAQ:INDI) Trading 9.7% Higher

indie Semiconductor, Inc. (NASDAQ:INDI) traded up 9.7% during mid-day trading on Monday . The stock traded as high as $7.20 and last traded at $7.04. 1,763,488 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 2,750,253 shares. The stock had previously closed at $6.42.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $13.50 target price (down from $14.50) on shares of indie Semiconductor in a research note on Friday, May 10th. KeyCorp lowered their price objective on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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 research analysts have rated the stock with a buy rating, According to MarketBeat, indie Semiconductor has a consensus rating of “Buy” and an average target price of $12.64.

indie Semiconductor Stock Performance

The company has a current ratio of 1.74, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average is $6.51 and its 200 day moving average is $6.59. The company has a market cap of $1.34 billion, a P/E ratio of -13.98 and a beta of 1.22.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, May 9th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.13). indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The business had revenue of $52.35 million for the quarter, compared to the consensus estimate of $56.30 million. As a group, equities analysts predict that indie Semiconductor, Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $6.74, for a total value of $337,000.00. Following the sale, the chief executive officer now owns 83,731 shares of the company’s stock, valued at approximately $564,346.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $6.74, for a total value of $337,000.00. Following the completion of the sale, the chief executive officer now directly owns 83,731 shares of the company’s stock, valued at approximately $564,346.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Ichiro Aoki sold 75,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $6.24, for a total transaction of $468,000.00. Following the completion of the sale, the president now directly owns 36,631 shares of the company’s stock, valued at $228,577.44. The disclosure for this sale can be found here. Insiders have sold a total of 401,744 shares of company stock valued at $2,589,348 in the last quarter. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of INDI. Vanguard Group Inc. lifted its position in shares of indie Semiconductor by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,028,012 shares of the company’s stock worth $56,876,000 after purchasing an additional 763,140 shares during the period. Moody National Bank Trust Division purchased a new position in indie Semiconductor during the 4th quarter valued at about $2,223,000. FNY Investment Advisers LLC purchased a new position in indie Semiconductor during the 4th quarter valued at about $168,000. Penbrook Management LLC purchased a new position in indie Semiconductor during the 4th quarter valued at about $154,000. Finally, Raymond James & Associates lifted its position in indie Semiconductor by 2.7% during the 4th quarter. Raymond James & Associates now owns 103,897 shares of the company’s stock valued at $843,000 after acquiring an additional 2,700 shares during the period. 67.73% of the stock is 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.