indie Semiconductor (NASDAQ:INDI) Trading Up 5.1% – What’s Next?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) rose 5.1% on Friday . The stock traded as high as $2.59 and last traded at $2.5650. Approximately 709,957 shares changed hands during trading, a decline of 84% from the average daily volume of 4,318,623 shares. The stock had previously closed at $2.44.

Analyst Ratings Changes

INDI has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. UBS Group set a $4.25 price target on shares of indie Semiconductor in a research report on Sunday, February 22nd. Finally, Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.45.

indie Semiconductor Trading Up 3.1%

The stock has a market capitalization of $552.37 million, a P/E ratio of -3.45 and a beta of 2.55. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $3.73 and a two-hundred day moving average price of $4.10.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.indie Semiconductor’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) earnings per share. On average, analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other news, COO Michael Wittmann sold 37,500 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $3.50, for a total value of $131,250.00. Following the completion of the transaction, the chief operating officer directly owned 123,885 shares in the company, valued at approximately $433,597.50. The trade was a 23.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Donald Mcclymont sold 100,000 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $4.09, for a total transaction of $409,000.00. Following the completion of the transaction, the chief executive officer directly owned 48,130 shares in the company, valued at $196,851.70. This trade represents a 67.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 393,420 shares of company stock valued at $1,446,529 in the last 90 days. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of INDI. ProShare Advisors LLC boosted its stake in indie Semiconductor by 9.0% in the second quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock valued at $142,000 after buying an additional 3,300 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in indie Semiconductor by 9.3% during the second quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock worth $162,000 after acquiring an additional 3,898 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of indie Semiconductor by 32.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after acquiring an additional 3,921 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of indie Semiconductor by 27.0% in the second quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock worth $71,000 after acquiring an additional 4,207 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of indie Semiconductor by 20.5% in the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after purchasing an additional 4,365 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

About indie Semiconductor

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.