indie Semiconductor (NASDAQ:INDI) Shares Gap Down After Analyst Downgrade

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report)'s share price gapped down before the market opened on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $10.00 to $9.00. The stock had previously closed at $5.79, but opened at $5.35. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. indie Semiconductor shares last traded at $6.15, with a volume of 1,944,824 shares traded.

A number of other research analysts have also recently commented on the stock. Craig Hallum decreased their target price on shares of indie Semiconductor from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, February 23rd. B. Riley reaffirmed a "buy" rating and set a $13.50 price objective (down previously from $14.50) on shares of indie Semiconductor in a research report on Friday. Finally, KeyCorp cut their target price on indie Semiconductor from $10.00 to $9.00 and set an "overweight" rating on the stock in a research report on Friday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $12.64.

Insiders Place Their Bets

In other indie Semiconductor news, CFO Thomas Schiller sold 60,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $5.68, for a total value of $340,800.00. Following the sale, the chief financial officer now owns 1,039,583 shares of the company's stock, valued at approximately $5,904,831.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now owns 76,750 shares of the company's stock, valued at $479,687.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Schiller sold 60,000 shares of indie Semiconductor stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $5.68, for a total value of $340,800.00. Following the sale, the chief financial officer now directly owns 1,039,583 shares of the company's stock, valued at $5,904,831.44. The disclosure for this sale can be found here. Insiders sold a total of 173,323 shares of company stock worth $1,081,244 over the last 90 days. Corporate insiders own 9.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in indie Semiconductor by 269.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company's stock valued at $50,000 after purchasing an additional 4,470 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of indie Semiconductor in the 1st quarter valued at $53,000. Newbridge Financial Services Group Inc. grew its position in shares of indie Semiconductor by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company's stock valued at $56,000 after buying an additional 2,000 shares during the last quarter. Psagot Value Holdings Ltd. Israel raised its stake in indie Semiconductor by 24.2% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company's stock worth $69,000 after acquiring an additional 1,610 shares in the last quarter. Finally, Quent Capital LLC raised its stake in indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company's stock worth $71,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

indie Semiconductor Trading Down 0.5 %

The business's 50-day moving average is $6.27 and its two-hundred day moving average is $6.67. The stock has a market capitalization of $1.06 billion, a PE ratio of -6.48 and a beta of 1.21. The company has a quick ratio of 1.72, a current ratio of 1.96 and a debt-to-equity ratio of 0.33.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. The business had revenue of $70.13 million during the quarter, compared to the consensus estimate of $72.69 million. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. On average, analysts anticipate that indie Semiconductor, Inc. will post -0.42 earnings per share for the current fiscal year.

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.

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