indie Semiconductor (NASDAQ:INDI) Stock Price Up 4.5% – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INDI. Benchmark cut their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Roth Mkm cut their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.79.

indie Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.20 and a current ratio of 2.39. The firm’s fifty day simple moving average is $3.78 and its 200 day simple moving average is $5.11. The stock has a market capitalization of $880.48 million, a price-to-earnings ratio of -6.66 and a beta of 1.22.

Insider Transactions at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the transaction, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. This represents a 7.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the transaction, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This trade represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 278,531 shares of company stock valued at $1,242,915 over the last quarter. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors have recently bought and sold shares of INDI. Geode Capital Management LLC grew its stake in shares of indie Semiconductor by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after acquiring an additional 276,739 shares in the last quarter. Barclays PLC boosted its holdings in indie Semiconductor by 330.7% during the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after purchasing an additional 197,179 shares during the last quarter. State Street Corp grew its position in indie Semiconductor by 2.3% in the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after purchasing an additional 161,132 shares in the last quarter. Harber Asset Management LLC acquired a new stake in indie Semiconductor in the 3rd quarter valued at $3,406,000. Finally, Bamco Inc. NY lifted its position in indie Semiconductor by 0.6% during the 3rd quarter. Bamco Inc. NY now owns 15,240,606 shares of the company’s stock worth $60,810,000 after buying an additional 89,181 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

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.