indie Semiconductor (NASDAQ:INDI) Shares Gap Down - Should You Sell?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $3.46, but opened at $3.30. indie Semiconductor shares last traded at $3.26, with a volume of 1,112,685 shares.

Analyst Ratings Changes

A number of research firms recently issued reports on INDI. KeyCorp lowered their price objective 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. Craig Hallum reduced their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Finally, Benchmark reissued a "buy" rating and set a $6.00 price target on shares of indie Semiconductor in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $5.75.

indie Semiconductor Stock Up 6.9%

The firm has a market capitalization of $724.67 million, a price-to-earnings ratio of -4.49 and a beta of 2.12. 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 fifty day moving average of $2.37 and a two-hundred day moving average of $3.18.

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, meeting the consensus estimate of ($0.08). The company had revenue of $54.08 million during the quarter, compared to analysts' expectations of $54.94 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Transactions at indie Semiconductor

In related news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction 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 completion of the transaction, the chief operating officer now owns 101,662 shares of the company's stock, valued at $263,304.58. This trade represents a 11.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.60% of the company's stock.

Institutional Trading of indie Semiconductor

A number of large investors have recently bought and sold shares of INDI. Primecap Management Co. CA boosted its position in shares of indie Semiconductor by 8.9% during the 1st quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock valued at $58,249,000 after purchasing an additional 2,335,620 shares in the last quarter. Bamco Inc. NY lifted its stake in indie Semiconductor by 30.6% in the fourth quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock valued at $80,602,000 after buying an additional 4,661,220 shares during the period. Frontier Capital Management Co. LLC lifted its stake in indie Semiconductor by 60.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock valued at $70,366,000 after buying an additional 6,517,978 shares during the period. Vanguard Group Inc. boosted its holdings in shares of indie Semiconductor by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 12,805,999 shares of the company's stock worth $26,060,000 after buying an additional 220,737 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of indie Semiconductor by 23.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,102,127 shares of the company's stock valued at $8,348,000 after acquiring an additional 768,907 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.