indie Semiconductor (NASDAQ:INDI) Sees Large Volume Increase

indie Semiconductor, Inc. (NASDAQ:INDI) shares saw an uptick in trading volume on Monday . 5,066,698 shares traded hands during trading, an increase of 98% from the previous session’s volume of 2,557,116 shares.The stock last traded at $5.17 and had previously closed at $5.36.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INDI. KeyCorp cut their target price on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Craig Hallum dropped their price target on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $13.50.

indie Semiconductor Stock Performance

The stock’s 50 day moving average price is $6.52 and its two-hundred day moving average price is $6.66. The company has a quick ratio of 1.72, a current ratio of 1.96 and a debt-to-equity ratio of 0.33.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $70.13 million during the quarter, compared to analysts’ expectations of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. On average, sell-side analysts predict that indie Semiconductor, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling

In related news, COO Michael Wittmann sold 8,700 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the completion of the sale, the chief operating officer now directly owns 35,460 shares in the company, valued at $246,447. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the sale, the president now directly owns 31,208 shares in the company, valued at $211,278.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 8,700 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $6.95, for a total transaction of $60,465.00. Following the sale, the chief operating officer now owns 35,460 shares of the company’s stock, valued at $246,447. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,323 shares of company stock worth $740,444. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently made changes to their positions in INDI. Redwood Wealth Management Group LLC raised its position in indie Semiconductor by 5.2% in the third quarter. Redwood Wealth Management Group LLC now owns 52,500 shares of the company’s stock worth $331,000 after purchasing an additional 2,600 shares in the last quarter. Handelsbanken Fonder AB raised its position in indie Semiconductor by 77.6% in the third quarter. Handelsbanken Fonder AB now owns 29,653 shares of the company’s stock worth $187,000 after purchasing an additional 12,953 shares in the last quarter. Commonwealth Equity Services LLC raised its position in indie Semiconductor by 7.1% in the third quarter. Commonwealth Equity Services LLC now owns 43,459 shares of the company’s stock worth $274,000 after purchasing an additional 2,868 shares in the last quarter. Raymond James & Associates raised its position in indie Semiconductor by 213.0% in the third quarter. Raymond James & Associates now owns 101,197 shares of the company’s stock worth $638,000 after purchasing an additional 68,866 shares in the last quarter. Finally, Trellus Management Company LLC raised its position in indie Semiconductor by 8.7% in the third quarter. Trellus Management Company LLC now owns 110,000 shares of the company’s stock worth $693,000 after purchasing an additional 8,776 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

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.