indie Semiconductor (NASDAQ:INDI) Shares Down 5.1% - What's Next?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) shares fell 5.1% during mid-day trading on Tuesday . The company traded as low as $3.21 and last traded at $3.24. 865,251 shares traded hands during trading, a decline of 77% from the average session volume of 3,747,790 shares. The stock had previously closed at $3.41.

Wall Street Analyst Weigh In

A number of research firms recently commented on INDI. KeyCorp cut their price objective on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. B. Riley restated a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Benchmark reiterated a "buy" rating and set a $6.00 price objective on shares of indie Semiconductor in a research report on Wednesday, June 11th. Finally, Craig Hallum lowered 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 note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

indie Semiconductor Stock Performance

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 has a fifty day simple moving average of $2.51 and a two-hundred day simple moving average of $3.14. The firm has a market capitalization of $673.66 million, a P/E ratio of -4.23 and a beta of 2.12.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings data 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 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%. indie Semiconductor's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, research analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Insider Activity

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 stock was 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 of the company's stock, valued at $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 available through this link. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of indie Semiconductor stock in a transaction on Monday, June 16th. The shares were sold at an average price of $3.42, for a total transaction of $40,496.22. Following the completion of the sale, the director now directly owns 119,857 shares of the company's stock, valued at approximately $409,910.94. The trade was a 8.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,291 shares of company stock worth $111,592. Company insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On indie Semiconductor

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

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.