indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report)'s share price was down 5.6% on Tuesday . The company traded as low as $4.10 and last traded at $4.17. Approximately 2,737,395 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 3,957,671 shares. The stock had previously closed at $4.41.
Analyst Upgrades and Downgrades
INDI has been the topic of several analyst reports. Craig Hallum lowered their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. KeyCorp cut 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. Benchmark reiterated a "buy" rating and issued a $8.00 price target (up from $6.00) on shares of indie Semiconductor in a research report on Wednesday, June 25th. Finally, B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a research note 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $6.08.
View Our Latest Stock Analysis on INDI
indie Semiconductor Stock Performance
The firm has a fifty day moving average price of $3.25 and a 200 day moving average price of $3.08. The firm has a market capitalization of $913.79 million, a PE ratio of -5.73 and a beta of 2.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (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 return on equity of 27.25% and a negative net margin of 62.64%. The company's revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. Research analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.
Insider Activity
In related news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total value of $35,547.75. Following the sale, the chief operating officer owned 101,662 shares of the company's stock, valued at approximately $263,304.58. The trade was a 11.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business's 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 sale, the director directly owned 119,857 shares in the company, valued at $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 sold 43,823 shares of company stock valued at $128,088. 5.60% of the stock is currently owned by company insiders.
Institutional Trading of indie Semiconductor
Several hedge funds have recently bought and sold shares of INDI. Regal Investment Advisors LLC grew its holdings in indie Semiconductor by 39.2% during the 4th 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. National Bank of Canada FI grew its holdings in indie Semiconductor by 42.7% during the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock valued at $54,000 after purchasing an additional 4,023 shares during the last quarter. SlateStone Wealth LLC grew its holdings in indie Semiconductor by 27.1% during the 1st quarter. SlateStone Wealth LLC now owns 22,100 shares of the company's stock valued at $45,000 after purchasing an additional 4,706 shares during the last quarter. Invesco Ltd. grew its stake in indie Semiconductor by 5.5% in the 4th quarter. Invesco Ltd. now owns 93,328 shares of the company's stock worth $378,000 after acquiring an additional 4,879 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in indie Semiconductor by 36.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,486 shares of the company's stock worth $39,000 after acquiring an additional 5,213 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
About indie Semiconductor
(
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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.
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