indie Semiconductor (NASDAQ:INDI) Stock Price Up 4.8%

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) shot up 4.8% on Wednesday . The company traded as high as $3.94 and last traded at $3.93. 481,075 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,752,009 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

INDI has been the topic of several research reports. Benchmark reissued a "buy" rating and set a $12.00 price target on shares of indie Semiconductor in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Finally, Roth Mkm lowered their price objective on shares of indie Semiconductor from $10.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $10.50.

indie Semiconductor Trading Up 5.6 %

The firm's fifty day moving average price is $4.25 and its 200-day moving average price is $5.65. The company has a market cap of $781.78 million, a price-to-earnings ratio of -8.08 and a beta of 1.20. 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 posted its earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The firm had revenue of $52.40 million during the quarter, compared to analysts' expectations of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. indie Semiconductor's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) EPS. On average, equities analysts expect that indie Semiconductor, Inc. will post -0.7 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the sale, the chief financial officer now directly owns 977,192 shares in the company, valued at $3,742,645.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of indie Semiconductor by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company's stock worth $75,047,000 after buying an additional 332,500 shares in the last quarter. Granahan Investment Management LLC raised its position in indie Semiconductor by 63.3% in the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company's stock worth $107,008,000 after acquiring an additional 5,115,393 shares in the last quarter. Intrinsic Edge Capital Management LLC lifted its holdings in indie Semiconductor by 132.5% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company's stock valued at $23,466,000 after acquiring an additional 1,648,818 shares during the last quarter. Comerica Bank boosted its position in shares of indie Semiconductor by 23,949.9% during the 1st quarter. Comerica Bank now owns 314,813 shares of the company's stock valued at $2,229,000 after purchasing an additional 313,504 shares in the last quarter. Finally, Moody National Bank Trust Division grew its stake in shares of indie Semiconductor by 98.5% in the 1st quarter. Moody National Bank Trust Division now owns 544,034 shares of the company's stock worth $3,852,000 after purchasing an additional 269,977 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.