Several other analysts have also weighed in on INDI. Zacks Investment Research upgraded shares of indie Semiconductor from a hold rating to a buy rating and set a $6.75 target price for the company in a research note on Wednesday. Benchmark began coverage on shares of indie Semiconductor in a research note on Friday. They set a buy rating and a $17.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of indie Semiconductor from $13.00 to $11.00 in a research note on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat, indie Semiconductor presently has a consensus rating of Buy and a consensus price target of $13.29.
Shares of NASDAQ:INDI traded up $1.54 during midday trading on Friday, reaching $6.94. The company had a trading volume of 3,609,414 shares, compared to its average volume of 1,120,083. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.36 and a quick ratio of 7.09. The stock’s fifty day moving average price is $7.12 and its 200-day moving average price is $9.51. The stock has a market capitalization of $902.69 million, a P/E ratio of -7.23 and a beta of 0.36. indie Semiconductor has a one year low of $5.07 and a one year high of $16.33.
In other news, COO Steven Machuga sold 95,803 shares of the business’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $7.28, for a total transaction of $697,445.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Scott David Kee sold 188,912 shares of the business’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $7.89, for a total transaction of $1,490,515.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 295,655 shares of company stock valued at $2,268,945. Corporate insiders own 20.23% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sycomore Asset Management grew its position in indie Semiconductor by 9.8% in the 4th quarter. Sycomore Asset Management now owns 280,081 shares of the company’s stock valued at $3,333,000 after buying an additional 25,081 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in indie Semiconductor in the 4th quarter valued at about $6,545,000. Geode Capital Management LLC grew its position in indie Semiconductor by 803.3% in the 3rd quarter. Geode Capital Management LLC now owns 493,214 shares of the company’s stock valued at $6,071,000 after buying an additional 438,611 shares in the last quarter. Jump Financial LLC bought a new position in shares of indie Semiconductor during the 3rd quarter valued at about $468,000. Finally, Insight Advisors LLC PA boosted its position in shares of indie Semiconductor by 11.1% during the 4th quarter. Insight Advisors LLC PA now owns 30,595 shares of the company’s stock valued at $367,000 after purchasing an additional 3,045 shares in the last quarter. Hedge funds and other institutional investors own 25.04% of the company’s stock.
About indie Semiconductor (Get Rating)
indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.
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