indie Semiconductor (NASDAQ:INDI) Trading 4.5% Higher – Should You Buy?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price traded up 4.5% during mid-day trading on Friday . The stock traded as high as $4.66 and last traded at $4.66. 710,107 shares were traded during trading, a decline of 75% from the average session volume of 2,892,230 shares. The stock had previously closed at $4.46.

Analysts Set New Price Targets

INDI has been the subject of several research reports. Roth Mkm reduced their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on 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, Benchmark reduced their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.79.

indie Semiconductor Price Performance

The company’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $5.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.20 and a current ratio of 2.39.

Insider Buying and Selling at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. This trade represents a 7.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at $86,433.21. This trade represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 278,531 shares of company stock worth $1,242,915. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in shares of indie Semiconductor by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock worth $192,000 after purchasing an additional 2,131 shares during the last quarter. GAMMA Investing LLC raised its position in shares of indie Semiconductor by 1,743.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after acquiring an additional 3,906 shares during the period. Wealth Effects LLC boosted its stake in indie Semiconductor by 2.8% during the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock worth $1,053,000 after acquiring an additional 4,600 shares during the last quarter. Register Financial Advisors LLC grew its holdings in indie Semiconductor by 3.7% during the second quarter. Register Financial Advisors LLC now owns 138,440 shares of the company’s stock valued at $854,000 after purchasing an additional 5,000 shares during the period. Finally, Tempus Wealth Planning LLC increased its stake in indie Semiconductor by 30.6% in the second quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock valued at $138,000 after purchasing an additional 5,238 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.