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.
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
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.
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