indie Semiconductor (NASDAQ:INDI) Trading Up 4.4%

indie Semiconductor, Inc. (NASDAQ:INDI – Get Rating)’s stock price was up 4.4% during trading on Friday . The stock traded as high as $9.54 and last traded at $9.49. Approximately 325,893 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,852,692 shares. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on INDI shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of indie Semiconductor from $10.00 to $15.00 in a research note on Friday, February 17th. TheStreet lowered shares of indie Semiconductor from a “c” rating to a “d” rating in a research note on Thursday, May 11th. B. Riley raised their price target on shares of indie Semiconductor from $13.00 to $14.00 in a research note on Friday, February 17th. Benchmark restated a “buy” rating and set a $17.00 price target on shares of indie Semiconductor in a research note on Tuesday, March 14th. Finally, KeyCorp raised their price objective on shares of indie Semiconductor from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, February 17th.

indie Semiconductor Stock Up 3.5 %

The company’s fifty day simple moving average is $9.04 and its 200 day simple moving average is $8.38. The company has a quick ratio of 2.19, a current ratio of 2.52 and a debt-to-equity ratio of 0.44.

indie Semiconductor (NASDAQ:INDI – Get Rating) last announced its quarterly earnings results on Thursday, May 11th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. indie Semiconductor had a negative net margin of 102.77% and a negative return on equity of 18.69%. The firm had revenue of $40.45 million during the quarter, compared to the consensus estimate of $40.02 million. On average, equities analysts expect that indie Semiconductor, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at indie Semiconductor

In other news, President Ichiro Aoki sold 100,000 shares of indie Semiconductor stock in a transaction on Monday, May 15th. The shares were sold at an average price of $8.11, for a total transaction of $811,000.00. Following the completion of the sale, the president now directly owns 6,341 shares of the company’s stock, valued at approximately $51,425.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Thomas Schiller sold 30,000 shares of indie Semiconductor stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $10.53, for a total value of $315,900.00. Following the transaction, the chief financial officer now owns 1,304,303 shares in the company, valued at approximately $13,734,310.59. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Ichiro Aoki sold 100,000 shares of indie Semiconductor stock in a transaction on Monday, May 15th. The stock was sold at an average price of $8.11, for a total transaction of $811,000.00. Following the completion of the transaction, the president now owns 6,341 shares in the company, valued at approximately $51,425.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 390,000 shares of company stock valued at $3,471,100. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of large investors have recently added to or reduced their stakes in INDI. Hood River Capital Management LLC purchased a new position in indie Semiconductor in the 1st quarter worth $29,863,000. Granahan Investment Management LLC raised its position in indie Semiconductor by 61.4% during the 4th quarter. Granahan Investment Management LLC now owns 7,290,449 shares of the company’s stock valued at $42,503,000 after purchasing an additional 2,772,585 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in indie Semiconductor by 81.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 5,654,768 shares of the company’s stock worth $32,967,000 after buying an additional 2,533,293 shares during the period. Light Street Capital Management LLC purchased a new stake in indie Semiconductor in the 3rd quarter worth approximately $12,130,000. Finally, AIGH Capital Management LLC lifted its holdings in indie Semiconductor by 110.5% in the 4th quarter. AIGH Capital Management LLC now owns 3,058,243 shares of the company’s stock worth $17,830,000 after buying an additional 1,605,477 shares during the period. Hedge funds and other institutional investors own 45.44% of the company’s stock.

About indie Semiconductor

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indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.