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

indie Semiconductor, Inc. (NASDAQ:INDI) was the recipient of a large increase in short interest during 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. Currently, 15.2% of the company’s shares are short sold. Based on an average trading volume of 2,430,000 shares, the short-interest ratio is presently 9.6 days.

indie Semiconductor Stock Up 1.0 %

NASDAQ INDI opened at $5.91 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. The stock’s fifty day moving average price is $6.69 and its 200 day moving average price is $6.67. indie Semiconductor has a 1 year low of $4.67 and a 1 year high of $10.85.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating 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 business had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. As a group, analysts anticipate that indie Semiconductor will post -0.42 EPS for the current fiscal year.

Insider Activity at indie Semiconductor

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

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of INDI. Legal & General Group Plc lifted its position in indie Semiconductor by 3.6% during the fourth quarter. Legal & General Group Plc now owns 31,091 shares of the company’s stock valued at $181,000 after purchasing an additional 1,066 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of indie Semiconductor by 7.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,729 shares of the company’s stock valued at $103,000 after buying an additional 1,181 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of indie Semiconductor by 4.5% in the first quarter. Commonwealth Equity Services LLC now owns 29,888 shares of the company’s stock worth $315,000 after buying an additional 1,297 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of indie Semiconductor by 3.3% in the first quarter. Cresset Asset Management LLC now owns 42,975 shares of the company’s stock worth $453,000 after buying an additional 1,385 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel grew its holdings in indie Semiconductor by 24.2% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after acquiring an additional 1,610 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INDI. KeyCorp decreased their price objective on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Craig Hallum decreased their target price on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, indie Semiconductor presently has a consensus rating of “Buy” and an average 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.