What's Happening With Indie Semiconductor Shares

Indie Semiconductor Inc INDI shares are trading higher by 12.7% to $9.26 Tuesday afternoon after B. Riley Securities upgraded the stock from Neutral to Buy and raised its price target from $10 to $13.

Indie Semiconductor shares are also trading higher despite volatility in the broader market after the Labor Department reported a 6.4% year-over-year increase in the consumer price index for January, marking the fourth straight lower print. 

Our Benzinga team earlier reported the headline CPI rose 6.4% last month, down from 6.5% in December, according to data from the U.S. Bureau of Labor Statistics.

The January CPI reading came in above average economist estimates of 6.2%.

On a month-over-month basis, CPI was up 0.5%, in line with average economist estimates...Read More

See Also: Inflation Continues To Cool, But At Slower Pace Than Economists Predicted: Stocks Struggle To Price In The Fed's Next Move

According to data from Benzinga Pro, Indie Semiconductor has a 52-week high of $9.33 and a 52-week low of $5.07.