Short Interest in indie Semiconductor, Inc. (NASDAQ:INDI) Increases By 5.1%

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 45,200,000 shares, a growth of 5.1% from the December 31st total of 43,010,000 shares. Approximately 25.2% of the company's stock are short sold. Based on an average daily volume of 4,900,000 shares, the short-interest ratio is currently 9.2 days.

indie Semiconductor Stock Performance

NASDAQ INDI traded up $0.01 on Friday, hitting $4.28. 2,118,464 shares of the stock traded hands, compared to its average volume of 3,666,847. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The business's fifty day moving average is $4.26 and its two-hundred day moving average is $4.23. indie Semiconductor has a 12 month low of $3.16 and a 12 month high of $7.82. The firm has a market capitalization of $864.22 million, a price-to-earnings ratio of -6.39 and a beta of 1.41.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. The firm had revenue of $53.97 million for the quarter, compared to the consensus estimate of $53.65 million. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, equities analysts anticipate that indie Semiconductor will post -0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INDI. Benchmark cut their target price on indie Semiconductor from $12.00 to $9.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. UBS Group initiated coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a "neutral" rating and a $4.50 price objective on the stock. Finally, Roth Mkm reduced their price objective on indie Semiconductor from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.29.

Insiders Place Their Bets

In related news, CEO Donald Mcclymont sold 200,000 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company's stock, valued at $86,433.21. This trade represents a 91.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Wittmann sold 18,375 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares in the company, valued at approximately $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,593 shares of company stock valued at $1,272,291. Corporate insiders own 8.20% of the company's stock.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its position in shares of indie Semiconductor by 1.8% in the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company's stock valued at $968,000 after purchasing an additional 4,156 shares in the last quarter. Arizona State Retirement System boosted its stake in indie Semiconductor by 13.0% in the 4th quarter. Arizona State Retirement System now owns 51,961 shares of the company's stock worth $210,000 after purchasing an additional 5,960 shares during the period. Daiwa Securities Group Inc. grew its holdings in indie Semiconductor by 74.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after buying an additional 6,363 shares in the last quarter. American Trust increased its position in shares of indie Semiconductor by 28.2% during the third quarter. American Trust now owns 28,976 shares of the company's stock valued at $116,000 after buying an additional 6,375 shares during the period. Finally, Legato Capital Management LLC lifted its holdings in shares of indie Semiconductor by 47.9% in the fourth quarter. Legato Capital Management LLC now owns 20,285 shares of the company's stock worth $82,000 after buying an additional 6,570 shares in the last quarter. 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.