indie Semiconductor (NASDAQ:INDI) Trading Up 4.8%

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) shot up 4.8% on Wednesday . The company traded as high as $3.94 and last traded at $3.93. 481,075 shares traded hands during trading, a decline of 83% from the average session volume of 2,752,009 shares. The stock had previously closed at $3.75.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark reissued a “buy” rating and set a $12.00 target price on shares of indie Semiconductor in a research report on Tuesday, September 10th. Finally, Roth Mkm decreased their target price on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $10.50.

indie Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. The firm has a fifty day simple moving average of $4.29 and a two-hundred day simple moving average of $5.66. The firm has a market cap of $787.71 million, a PE ratio of -7.65 and a beta of 1.20.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $53.61 million. indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. indie Semiconductor’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Equities analysts predict that indie Semiconductor, Inc. will post -0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in indie Semiconductor by 1,743.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in indie Semiconductor by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after buying an additional 2,000 shares during the period. Financial Management Professionals Inc. acquired a new stake in shares of indie Semiconductor in the 1st quarter valued at approximately $53,000. Quent Capital LLC boosted its position in shares of indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Xponance Inc. purchased a new position in indie Semiconductor in the second quarter valued at about $63,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Company Profile

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.