indie Semiconductor (NASDAQ:INDI) Stock: Insider David Aldrich Acquires 130,000 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) Director David Aldrich acquired 130,000 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were purchased at an average price of $2.30 per share, for a total transaction of $299,000.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

indie Semiconductor Price Performance

Shares of INDI traded down $0.08 during trading hours on Friday, reaching $2.10. 3,488,953 shares of the stock traded hands, compared to its average volume of 7,515,079. The company has a current ratio of 3.37, a quick ratio of 2.86 and a debt-to-equity ratio of 1.28. indie Semiconductor, Inc. has a 52-week low of $1.34 and a 52-week high of $5.49. The company’s 50-day moving average price is $2.46 and its two-hundred day moving average price is $3.43. The company has a market cap of $505.68 million, a P/E ratio of -2.92 and a beta of 3.10.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, November 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). indie Semiconductor had a negative return on equity of 34.86% and a negative net margin of 61.02%. The firm had revenue of $70.24 million during the quarter, compared to the consensus estimate of $70.21 million. During the same period in the prior year, the company posted ($0.07) EPS. The company’s quarterly revenue was up 30.8% on a year-over-year basis. On average, analysts anticipate that indie Semiconductor, Inc. will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

INDI has been the topic of several research analyst reports. TD Cowen lowered their price objective on indie Semiconductor from $4.50 to $2.00 and set a “hold” rating on the stock in a research report on Monday, October 19th. B. Riley Financial cut their target price on indie Semiconductor from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, October 15th. Finally, Roth Capital set a $5.00 target price on indie Semiconductor in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.94.

About indie Semiconductor

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.