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

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 23,210,000 shares, a growth 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 short-interest ratio is currently 9.6 days. Currently, 15.2% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, COO Michael Wittmann sold 8,700 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $6.95, for a total transaction of $60,465.00. Following the completion of the transaction, the chief operating officer now directly owns 35,460 shares in the company, valued at approximately $246,447. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 value of $312,500.00. Following the sale, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at $479,687.50. The sale 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 business’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 transaction, 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. Insiders have sold 111,491 shares of company stock worth $730,936 in the last three months. 9.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On indie Semiconductor

A number of hedge funds have recently modified their holdings of the company. Swiss National Bank grew its stake in shares of indie Semiconductor by 7.3% in the first quarter. Swiss National Bank now owns 91,000 shares of the company’s stock worth $711,000 after purchasing an additional 6,200 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of indie Semiconductor by 21.2% during the first quarter. Bank of New York Mellon Corp now owns 24,418 shares of the company’s stock valued at $191,000 after buying an additional 4,272 shares during the period. Citigroup Inc. raised its holdings in shares of indie Semiconductor by 102.7% during the first quarter. Citigroup Inc. now owns 76,416 shares of the company’s stock valued at $597,000 after acquiring an additional 38,721 shares in the last quarter. BlackRock Inc. raised its holdings in shares of indie Semiconductor by 4.0% during the first quarter. BlackRock Inc. now owns 921,562 shares of the company’s stock valued at $7,197,000 after acquiring an additional 35,596 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in indie Semiconductor by 1.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,162,433 shares of the company’s stock worth $9,079,000 after acquiring an additional 21,369 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

INDI has been the topic of a number of research analyst reports. Craig Hallum reduced their target price on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. KeyCorp reduced their price objective on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $13.50.

indie Semiconductor Stock Down 5.8 %

Shares of INDI stock opened at $6.00 on Tuesday. The business has a 50-day moving average of $6.70 and a 200 day moving average of $6.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96. indie Semiconductor has a 1-year low of $4.67 and a 1-year high of $10.85.

indie Semiconductor (NASDAQ:INDI) last released 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 firm had revenue of $70.13 million during the quarter, compared to analyst estimates of $72.69 million. On average, equities analysts anticipate that indie Semiconductor will post -0.42 earnings per share for the current fiscal year.

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.