indie Semiconductor (NASDAQ:INDI) Shares Gap Down – Time to Sell?

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price gapped down before the market opened on Friday . The stock had previously closed at $4.36, but opened at $4.23. indie Semiconductor shares last traded at $4.23, with a volume of 653,122 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Benchmark reduced their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Roth Mkm reduced their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, UBS Group initiated coverage on shares of indie Semiconductor in a research note on Friday. They set a “neutral” rating and a $4.50 price target on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.29.

indie Semiconductor Price Performance

The company has a 50-day moving average of $4.40 and a two-hundred day moving average of $4.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The stock has a market capitalization of $862.20 million, a PE ratio of -6.37 and a beta of 1.41.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. The company had revenue of $53.97 million for the quarter, compared to analysts’ expectations of $53.65 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Sell-side analysts predict that indie Semiconductor, Inc. will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the completion of the sale, the chief operating officer now owns 28,860 shares of the company’s stock, valued at approximately $118,326. The trade was a 38.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at $79,092.81. The trade was a 73.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,593 shares of company stock worth $1,272,291 over the last three months. 8.20% of the stock is owned by insiders.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of the company. American Trust boosted its holdings in shares of indie Semiconductor by 28.2% in the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after buying an additional 6,375 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in indie Semiconductor by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 62,769 shares of the company’s stock worth $387,000 after acquiring an additional 6,608 shares during the last quarter. Truvestments Capital LLC boosted its stake in indie Semiconductor by 15.6% in the third quarter. Truvestments Capital LLC now owns 56,456 shares of the company’s stock valued at $225,000 after acquiring an additional 7,601 shares during the period. Xponance Inc. bought a new position in shares of indie Semiconductor during the second quarter valued at approximately $63,000. Finally, Tempus Wealth Planning LLC raised its position in shares of indie Semiconductor by 61.6% during the 3rd quarter. Tempus Wealth Planning LLC now owns 36,121 shares of the company’s stock worth $144,000 after purchasing an additional 13,768 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.