indie Semiconductor (NASDAQ:INDI) Stock Price Down 3.8% – Time to Sell?

by · The Markets Daily

indie Semiconductor, Inc. (NASDAQ:INDI – Get Free Report)’s share price fell 3.8% during mid-day trading on Monday . The company traded as low as $3.53 and last traded at $3.53. 132,827 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 2,697,167 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INDI shares. Roth Mkm dropped their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Benchmark reissued a “buy” rating and set a $12.00 target price on shares of indie Semiconductor in a report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Buy” and an average target price of $10.50.

Get Our Latest Stock Report on indie Semiconductor

indie Semiconductor Stock Performance

The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31. The stock has a market cap of $681.10 million, a price-to-earnings ratio of -6.76 and a beta of 1.20. The company has a 50 day simple moving average of $3.84 and a 200 day simple moving average of $5.40.

indie Semiconductor (NASDAQ:INDI – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The company had revenue of $52.40 million during the quarter, compared to the consensus estimate of $53.61 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that indie Semiconductor, Inc. will post -0.7 EPS for the current year.

Insider Activity at indie Semiconductor

In other news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in indie Semiconductor by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock valued at $75,047,000 after buying an additional 332,500 shares during the last quarter. Comerica Bank boosted its holdings in shares of indie Semiconductor by 23,949.9% in the 1st quarter. Comerica Bank now owns 314,813 shares of the company’s stock worth $2,229,000 after buying an additional 313,504 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in indie Semiconductor during the third quarter worth about $4,478,000. Price T Rowe Associates Inc. MD raised its position in indie Semiconductor by 14.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock worth $306,000 after acquiring an additional 5,394 shares during the period. Finally, Bouvel Investment Partners LLC bought a new position in shares of indie Semiconductor during the 1st quarter valued at approximately $989,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Company Profile

(Get Free Report)

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.

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