indie Semiconductor (NASDAQ:INDI) Stock Price Down 4.9%

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price dropped 4.9% during trading on Monday . The company traded as low as $3.70 and last traded at $3.72. Approximately 470,991 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,784,661 shares. The stock had previously closed at $3.91.

Analysts Set New Price Targets

INDI has been the subject of a number of recent research reports. Roth Mkm reduced their price objective on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of indie Semiconductor in a research note on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $10.50.

indie Semiconductor Stock Performance

The business has a 50-day moving average price of $4.86 and a 200-day moving average price of $5.86. The firm has a market capitalization of $702.23 million, a price-to-earnings ratio of -7.67 and a beta of 1.20. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The firm had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. As a group, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.7 earnings per share for the current year.

Insider Activity

In other news, President Ichiro Aoki sold 50,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $6.14, for a total transaction of $307,000.00. Following the sale, the president now directly owns 36,631 shares of the company’s stock, valued at $224,914.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the sale, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Ichiro Aoki sold 50,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $6.14, for a total transaction of $307,000.00. Following the completion of the sale, the president now directly owns 36,631 shares in the company, valued at $224,914.34. The disclosure for this sale can be found here. Insiders have sold 206,882 shares of company stock valued at $1,096,570 over the last ninety days. 8.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. boosted its holdings in indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after purchasing an additional 2,000 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of indie Semiconductor by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock worth $192,000 after acquiring an additional 2,131 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of indie Semiconductor by 15.3% during the 1st quarter. Principal Financial Group Inc. now owns 20,162 shares of the company’s stock worth $143,000 after acquiring an additional 2,674 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after acquiring an additional 3,906 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in shares of indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after acquiring an additional 4,000 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.