indie Semiconductor, Inc. (NASDAQ:INDI) Short Interest Update

indie Semiconductor, Inc. (NASDAQ:INDI) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 23,210,000 shares, an increase of 8.3% from the March 15th total of 21,430,000 shares. Based on an average trading volume of 2,430,000 shares, the days-to-cover ratio is currently 9.6 days. Approximately 15.2% of the shares of the company are sold short.

indie Semiconductor Trading Down 5.8 %

Shares of NASDAQ:INDI opened at $6.00 on Tuesday. The company has a 50-day moving average price of $6.70 and a 200 day moving average price of $6.68. The company has a quick ratio of 1.72, a current ratio of 1.96 and a debt-to-equity ratio of 0.33. indie Semiconductor has a 12 month low of $4.67 and a 12 month high of $10.85.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. The company had revenue of $70.13 million during the quarter, compared to the consensus estimate of $72.69 million. As a group, research analysts expect that indie Semiconductor will post -0.42 EPS for the current fiscal year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the sale, the chief executive officer now owns 76,750 shares in the company, valued at approximately $479,687.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the sale, the chief executive officer now owns 76,750 shares in the company, valued at approximately $479,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Wittmann sold 8,700 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the completion of the transaction, the chief operating officer now owns 35,460 shares in the company, valued at $246,447. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,491 shares of company stock worth $730,936. 9.90% of the stock is owned by company insiders.

Institutional Trading of indie Semiconductor

Large investors have recently made changes to their positions in the stock. Bamco Inc. NY boosted its position in indie Semiconductor by 88.9% in the 3rd quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock valued at $69,545,000 after buying an additional 5,193,775 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of indie Semiconductor by 63.3% in the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after purchasing an additional 5,115,393 shares during the period. State Street Corp grew its stake in indie Semiconductor by 64.2% in the second quarter. State Street Corp now owns 6,943,221 shares of the company’s stock worth $65,266,000 after purchasing an additional 2,715,874 shares in the last quarter. BlackRock Inc. increased its holdings in indie Semiconductor by 36.7% during the 2nd quarter. BlackRock Inc. now owns 8,849,734 shares of the company’s stock worth $83,187,000 after purchasing an additional 2,377,645 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in indie Semiconductor by 1,018.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,921,108 shares of the company’s stock valued at $15,580,000 after purchasing an additional 1,749,397 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Craig Hallum reduced their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. KeyCorp reduced their price target on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, indie Semiconductor has a consensus rating of “Buy” and a consensus price target of $13.50.

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.