indie Semiconductor (NASDAQ:INDI) Stock Price Down 6.3% - Time to Sell?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) fell 6.3% on Thursday . The company traded as low as $3.52 and last traded at $3.59. 1,223,312 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,801,587 shares. The stock had previously closed at $3.83.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INDI. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Benchmark reissued a "buy" rating and issued a $8.00 target price (up previously from $6.00) on shares of indie Semiconductor in a research note on Wednesday. Craig Hallum lowered their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, KeyCorp lowered their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $6.08.

indie Semiconductor Trading Down 5.2%

The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64. The stock's 50-day simple moving average is $2.67 and its 200 day simple moving average is $3.11.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08). The firm had revenue of $54.08 million for 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 company's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. Research analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other news, COO Michael Wittmann sold 13,725 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total transaction of $35,547.75. Following the transaction, the chief operating officer now directly owns 101,662 shares in the company, valued at approximately $263,304.58. This represents a 11.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $3.42, for a total transaction of $40,496.22. Following the transaction, the director now owns 119,857 shares in the company, valued at $409,910.94. The trade was a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,291 shares of company stock worth $111,592 over the last ninety days. Corporate insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On indie Semiconductor

A number of large investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings in indie Semiconductor by 12.4% in the fourth quarter. Barclays PLC now owns 288,715 shares of the company's stock valued at $1,169,000 after buying an additional 31,916 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in indie Semiconductor by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company's stock valued at $5,796,000 after buying an additional 112,793 shares during the period. Vanguard Group Inc. lifted its holdings in indie Semiconductor by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock valued at $50,970,000 after buying an additional 942,088 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in indie Semiconductor by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company's stock valued at $1,069,000 after buying an additional 32,979 shares during the period. Finally, Two Sigma Investments LP acquired a new position in indie Semiconductor in the fourth quarter valued at approximately $386,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.