Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) Director Sells 11,841 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) Director Sonalee Elizabeth Parekh sold 11,841 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $3.42, for a total transaction of $40,496.22. Following the sale, the director now directly owns 119,857 shares of the company's stock, valued at approximately $409,910.94. This represents a 8.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

indie Semiconductor Stock Performance

NASDAQ INDI traded down $0.04 on Friday, hitting $3.17. The stock had a trading volume of 6,285,622 shares, compared to its average volume of 3,780,586. indie Semiconductor, Inc. has a one year low of $1.53 and a one year high of $7.45. The company has a quick ratio of 4.64, a current ratio of 5.30 and a debt-to-equity ratio of 0.85. The stock has a market cap of $673.66 million, a price-to-earnings ratio of -4.23 and a beta of 2.12. The company's 50-day moving average is $2.51 and its two-hundred day moving average is $3.14.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). The company had revenue of $54.08 million during the quarter, compared to analyst estimates of $54.94 million. indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. On average, analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Trading of indie Semiconductor

Institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI lifted its stake in shares of indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after acquiring an additional 4,023 shares during the period. ArrowMark Colorado Holdings LLC acquired a new stake in indie Semiconductor during the fourth quarter valued at approximately $55,000. Regal Investment Advisors LLC lifted its stake in indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock valued at $57,000 after purchasing an additional 3,988 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after purchasing an additional 6,363 shares during the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in indie Semiconductor during the first quarter valued at approximately $31,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and set a $6.00 price objective on shares of indie Semiconductor in a research report on Wednesday, June 11th. Craig Hallum decreased their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. KeyCorp decreased their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, B. Riley restated a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, indie Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.75.

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.