indie Semiconductor (NASDAQ:INDI) Director David Aldrich Purchases 130,000 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) Director David Aldrich acquired 130,000 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were acquired at an average price of $2.30 per share, for a total transaction of $299,000.00. Following the completion of the purchase, the director owned 393,392 shares of the company’s stock, valued at approximately $904,801.60. This represents a 49.36% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

indie Semiconductor Stock Down 3.7%

NASDAQ:INDI traded down $0.08 during trading hours on Friday, reaching $2.10. The company’s stock had a trading volume of 3,488,953 shares, compared to its average volume of 7,515,079. The company has a market capitalization of $505.68 million, a P/E ratio of -2.92 and a beta of 3.10. indie Semiconductor, Inc. has a 12 month low of $1.34 and a 12 month high of $5.49. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.86 and a current ratio of 3.37. The stock has a 50 day moving average price of $2.46 and a two-hundred day moving average price of $3.43.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, November 5th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $70.24 million for the quarter, compared to analysts’ expectations of $70.21 million. indie Semiconductor had a negative return on equity of 34.86% and a negative net margin of 61.02%. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. Equities analysts predict that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INDI shares. B. Riley Financial dropped 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. TD Cowen reduced their target price 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 price target on shares of indie Semiconductor in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, October 15th. Finally, Wall Street Zen cut shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.94.

Institutional Trading of indie Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in INDI. Granahan Investment Management LLC grew its stake in indie Semiconductor by 17.8% during the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock worth $65,314,000 after buying an additional 3,067,255 shares during the last quarter. Elemental Capital Partners LLC raised its position in shares of indie Semiconductor by 0.5% in the 3rd quarter. Elemental Capital Partners LLC now owns 13,372,249 shares of the company’s stock valued at $39,114,000 after purchasing an additional 62,806 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of indie Semiconductor by 19.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,873,776 shares of the company’s stock valued at $6,033,000 after purchasing an additional 308,620 shares during the period. Moody National Bank Trust Division raised its stake in shares of indie Semiconductor by 0.4% in the third quarter. Moody National Bank Trust Division now owns 1,000,840 shares of the company’s stock worth $2,927,000 after purchasing an additional 3,816 shares during the last quarter. Finally, Bank of America Corp DE grew its position in indie Semiconductor by 0.9% during the 1st quarter. Bank of America Corp DE now owns 875,146 shares of the company’s stock worth $2,818,000 after purchasing an additional 7,875 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Company Profile

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.