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

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

Analyst Ratings Changes

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

indie Semiconductor Trading Up 20.2%

The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The firm has a market capitalization of $504.18 million, a P/E ratio of -3.02 and a beta of 3.10. The firm has a 50 day moving average price of $2.60 and a two-hundred day moving average price of $3.48.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). indie Semiconductor had a negative return on equity of 34.00% and a negative net margin of 61.02%. The company had revenue of $70.24 million for the quarter, compared to analyst estimates of $70.21 million. During the same period last year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, equities research analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 42,468 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $4.10, for a total transaction of $174,118.80. Following the sale, the chief operating officer owned 96,884 shares in the company, valued at approximately $397,224.40. The trade was a 30.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Naixi Wu sold 23,170 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $3.72, for a total transaction of $86,192.40. Following the sale, the chief financial officer directly owned 156,058 shares of the company’s stock, valued at $580,535.76. This represents a 12.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 353,861 shares of company stock worth $1,296,644. Company insiders own 2.57% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. grew its position in indie Semiconductor by 7,163.7% during the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after purchasing an additional 8,095 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of indie Semiconductor during the third quarter valued at $33,000. Principal Financial Group Inc. purchased a new position in shares of indie Semiconductor during the first quarter valued at $35,000. Integrated Wealth Concepts LLC purchased a new position in shares of indie Semiconductor during the second quarter valued at $49,000. Finally, PNC Financial Services Group Inc. raised its position 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 during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.