indie Semiconductor (NASDAQ:INDI) Shares Up 10.5% – Time to Buy?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) were up 10.5% on Wednesday . The stock traded as high as $4.34 and last traded at $4.31. Approximately 1,342,989 shares changed hands during trading, a decline of 69% from the average daily volume of 4,268,646 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

INDI has been the topic of a number of analyst reports. Roth Mkm decreased their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Benchmark lowered their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, indie Semiconductor presently has a consensus rating of “Buy” and an average target price of $8.92.

indie Semiconductor Stock Performance

The company has a market cap of $870.28 million, a P/E ratio of -6.43 and a beta of 1.41. The business has a fifty day moving average of $4.46 and a 200 day moving average of $4.48. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Insider Transactions at indie Semiconductor

In other news, COO Michael Wittmann sold 18,375 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the completion of the transaction, the chief operating officer now owns 28,860 shares of the company’s stock, valued at approximately $118,326. This represents a 38.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald Mcclymont sold 200,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the sale, the chief executive officer now owns 18,351 shares in the company, valued at $86,433.21. This represents a 91.60 % 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. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Xponance Inc. bought a new stake in indie Semiconductor in the second quarter worth $63,000. Virtu Financial LLC purchased a new stake in indie Semiconductor during the 3rd quarter valued at about $58,000. Algert Global LLC bought a new stake in indie Semiconductor during the 2nd quarter valued at about $97,000. B. Riley Wealth Advisors Inc. bought a new position in shares of indie Semiconductor in the second quarter worth approximately $105,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of indie Semiconductor during the fourth quarter valued at approximately $74,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.