indie Semiconductor (NASDAQ:INDI) Shares Gap Up - Time to Buy?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $3.43, but opened at $4.64. indie Semiconductor shares last traded at $4.94, with a volume of 13,600,048 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INDI. Deutsche Bank Aktiengesellschaft cut their target price on indie Semiconductor from $9.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Benchmark reduced their price target on indie Semiconductor from $12.00 to $9.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Roth Mkm decreased their price objective on indie Semiconductor from $7.00 to $5.00 and set a "buy" rating for the company in a report on Friday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor presently has an average rating of "Buy" and a consensus target price of $9.79.

indie Semiconductor Trading Up 59.8 %

The firm's 50 day moving average price is $3.67 and its 200-day moving average price is $5.14. The stock has a market cap of $1.08 billion, a P/E ratio of -9.59 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The firm had revenue of $52.40 million for the quarter, compared to the consensus estimate of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. As a group, equities research analysts forecast that indie Semiconductor, Inc. will post -0.7 earnings per share for the current year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now directly owns 977,192 shares of the company's stock, valued at approximately $3,742,645.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of indie Semiconductor by 63.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 80,638 shares of the company's stock worth $571,000 after acquiring an additional 31,200 shares during the last quarter. Zevenbergen Capital Investments LLC purchased a new position in shares of indie Semiconductor in the 1st quarter worth approximately $524,000. Swiss National Bank boosted its stake in indie Semiconductor by 5.4% in the 1st quarter. Swiss National Bank now owns 270,800 shares of the company's stock worth $1,917,000 after purchasing an additional 13,800 shares in the last quarter. Sei Investments Co. boosted its stake in indie Semiconductor by 62.7% in the 1st quarter. Sei Investments Co. now owns 124,862 shares of the company's stock worth $884,000 after purchasing an additional 48,115 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in indie Semiconductor in the 1st quarter worth approximately $1,471,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.