indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) dropped 5.6% during trading on Tuesday . The company traded as low as $4.10 and last traded at $4.17. Approximately 2,737,395 shares changed hands during trading, a decline of 31% from the average daily volume of 3,957,671 shares. The stock had previously closed at $4.41.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. B. Riley restated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Craig Hallum decreased their price target 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. Benchmark reiterated a "buy" rating and set a $8.00 price target (up from $6.00) on shares of indie Semiconductor in a research report on Wednesday, June 25th. Finally, KeyCorp decreased their price target on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $6.08.
Check Out Our Latest Analysis on INDI
indie Semiconductor Trading Down 2.1%
The stock has a market cap of $888.29 million, a P/E ratio of -5.57 and a beta of 2.20. The company has a current ratio of 5.30, a quick ratio of 4.64 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $3.41 and a two-hundred day moving average price of $3.09.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The business 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 27.25% and a negative net margin of 62.64%. 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 earned ($0.10) EPS. On average, research analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.
Insider Activity at indie Semiconductor
In other news, COO Michael Wittmann sold 13,725 shares of the firm'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 value of $35,547.75. Following the transaction, the chief operating officer owned 101,662 shares in the company, valued at $263,304.58. This trade represents a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of indie Semiconductor stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $3.42, for a total value of $40,496.22. Following the transaction, the director owned 119,857 shares in the company, 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 three months, insiders sold 43,823 shares of company stock worth $128,088. 5.60% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of INDI. Signaturefd LLC lifted its position in indie Semiconductor by 145.7% during the 2nd quarter. Signaturefd LLC now owns 11,457 shares of the company's stock worth $41,000 after acquiring an additional 6,794 shares during the period. Abel Hall LLC purchased a new position in shares of indie Semiconductor during the 2nd quarter worth approximately $41,000. National Bank of Canada FI raised its stake in shares of indie Semiconductor by 42.7% during the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after buying an additional 4,023 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in shares of indie Semiconductor during the 4th quarter worth approximately $55,000. Finally, Regal Investment Advisors LLC raised its stake in shares of indie Semiconductor by 39.2% during the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after buying an additional 3,988 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
About indie Semiconductor
(
Get Free Report)
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.
Further Reading
Before you consider indie Semiconductor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and indie Semiconductor wasn't on the list.
While indie Semiconductor currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access