indie Semiconductor (NASDAQ:INDI) Stock Price Up 19.6% – What’s Next?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price shot up 19.6% on Monday. The stock traded as high as $2.1664 and last traded at $2.1650. 9,083,339 shares traded hands during trading, an increase of 65% from the average daily volume of 5,505,001 shares. The stock had previously closed at $1.81.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on INDI shares. TD Cowen reduced their price target on shares of indie Semiconductor from $4.50 to $2.00 and set a “hold” rating for the company in a research report on Monday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, October 15th. Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a research report on Friday, August 7th. Finally, B. Riley Financial dropped their price objective on shares of indie Semiconductor from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.94.

indie Semiconductor Trading Up 20.2%

The firm has a market capitalization of $504.18 million, a price-to-earnings ratio of -3.02 and a beta of 3.10. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average price of $2.60 and a 200-day moving average price of $3.48.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). indie Semiconductor had a negative net margin of 61.02% and a negative return on equity of 34.00%. 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 previous year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 30.8% compared to the same quarter last year. On average, equities research analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald McClymont sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $3.11, for a total value of $155,500.00. Following the completion of the sale, the chief executive officer directly owned 481,026 shares of the company’s stock, valued at $1,495,990.86. The trade was a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Michael Wittmann sold 42,468 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $4.10, for a total transaction of $174,118.80. Following the transaction, the chief operating officer owned 96,884 shares in the company, valued at approximately $397,224.40. This trade represents a 30.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 353,861 shares of company stock worth $1,296,644 in the last ninety days. Insiders own 2.57% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Large investors have recently bought and sold shares of the business. Moody National Bank Trust Division boosted its holdings in indie Semiconductor by 0.4% in the third quarter. Moody National Bank Trust Division now owns 1,000,840 shares of the company’s stock worth $2,927,000 after purchasing an additional 3,816 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in indie Semiconductor by 37.7% during the first quarter. PNC Financial Services Group Inc. now owns 28,199 shares of the company’s stock valued at $91,000 after buying an additional 7,724 shares in the last quarter. Bank of America Corp DE lifted its position in shares of indie Semiconductor by 0.9% in the first quarter. Bank of America Corp DE now owns 875,146 shares of the company’s stock worth $2,818,000 after buying an additional 7,875 shares during the last quarter. Optiver Holding B.V. lifted its position in shares of indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after buying an additional 8,095 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of indie Semiconductor by 2.4% in the first quarter. Swiss National Bank now owns 400,900 shares of the company’s stock worth $1,291,000 after buying an additional 9,400 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Company Profile

indie Semiconductor, Inc develops semiconductor and software solutions for the automotive industry. Its products are designed to support advanced driver-assistance systems (ADAS), vehicle electrification, connected-car applications and automotive user experiences.

The company’s technology portfolio includes solutions for automotive radar, computer vision, lidar, ultrasonic sensing, vehicle networking, battery management and power conversion. Its products are intended for use in systems such as automated parking, blind-spot detection, collision avoidance, in-cabin monitoring, lighting, infotainment and other intelligent vehicle functions.

Founded in 2007 and headquartered in Aliso Viejo, California, indie serves automotive manufacturers and suppliers internationally.