Key Points
- Director David Aldrich bought 130,000 shares at an average price of $2.30, spending $299,000 and increasing his stake by 49.36% to 393,392 shares.
- indie Semiconductor reported quarterly revenue of $70.24 million, up 30.8% year over year, but its loss of $0.05 per share was slightly worse than analysts’ $0.04 loss estimate.
- Analysts’ average rating is Hold, with an average price target of $3.94; recent target changes included cuts from TD Cowen and B. Riley.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) Director David Aldrich bought 130,000 shares of the stock in a transaction on Wednesday, November 11th. The shares were acquired at an average cost of $2.30 per share, for a total transaction of $299,000.00. Following the purchase, the director owned 393,392 shares in the company, valued at $904,801.60. The trade was a 49.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
indie Semiconductor Price Performance
Shares of indie Semiconductor stock traded down $0.08 during trading hours on Friday, reaching $2.10. 3,488,953 shares of the company's stock were exchanged, compared to its average volume of 7,515,079. indie Semiconductor, Inc. has a 1 year low of $1.34 and a 1 year high of $5.49. The company has a market capitalization of $505.68 million, a P/E ratio of -2.92 and a beta of 3.10. The business has a fifty day moving average of $2.46 and a two-hundred day moving average of $3.43. The company has a quick ratio of 2.86, a current ratio of 3.37 and a debt-to-equity ratio of 1.28.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). The business had revenue of $70.24 million during the quarter, compared to analyst estimates of $70.21 million. indie Semiconductor had a negative net margin of 61.02% and a negative return on equity of 34.86%. indie Semiconductor's quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) earnings per share. As a group, research analysts predict that indie Semiconductor, Inc. will post -0.53 earnings per share for the current fiscal year.
Institutional Investors Weigh In On indie Semiconductor
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC acquired a new position in indie Semiconductor in the 3rd quarter valued at about $30,000. Pathstone Holdings LLC increased its holdings in shares of indie Semiconductor by 39.5% during the 3rd quarter. Pathstone Holdings LLC now owns 16,945 shares of the company's stock worth $50,000 after buying an additional 4,800 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in shares of indie Semiconductor during the 3rd quarter valued at approximately $2,017,000. First Trust Advisors LP raised its position in shares of indie Semiconductor by 8.3% during the 3rd quarter. First Trust Advisors LP now owns 409,651 shares of the company's stock valued at $1,198,000 after buying an additional 31,392 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of indie Semiconductor by 42.0% during the 3rd quarter. Global Retirement Partners LLC now owns 17,555 shares of the company's stock valued at $51,000 after buying an additional 5,196 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
INDI has been the subject of a number of recent research reports. TD Cowen cut their price objective on shares of indie Semiconductor from $4.50 to $2.00 and set a "hold" rating for the company in a report on Monday, October 19th. Roth Capital set a $5.00 target price on indie Semiconductor in a report on Friday, August 7th. Wall Street Zen lowered indie Semiconductor from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a report on Thursday, October 15th. Finally, B. Riley Financial reduced their price objective on indie Semiconductor from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday, November 6th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, indie Semiconductor currently has an average rating of "Hold" and an average price target of $3.94.
View Our Latest Research Report on indie Semiconductor
indie Semiconductor Company Profile
(
Get Free Report)
indie Semiconductor, Inc. is a fabless semiconductor company that develops automotive technologies for advanced driver-assistance systems (ADAS), automated driving, in-cabin experiences, vehicle connectivity and electrification. Its products combine analog and mixed-signal circuits with digital processing and software for use in vehicle systems. The company's offerings support applications such as radar, lidar, computer vision, ultrasonic sensing, audio and vehicle networking. Automakers and automotive suppliers use its technologies to help enable sensing, safety and other electronic functions in vehicles.
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