indie Semiconductor (NASDAQ:INDI) Stock Price Down 7.7%

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) shares fell 7.7% during trading on Wednesday . The company traded as low as $6.54 and last traded at $6.56. 590,004 shares changed hands during trading, a decline of 76% from the average session volume of 2,427,380 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. KeyCorp reduced their price target on indie Semiconductor from $12.00 to $10.00 and set an "overweight" rating for the company in a report on Friday, February 23rd. Craig Hallum reduced their target price on indie Semiconductor from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, February 23rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $13.50.

indie Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.62 and a beta of 1.15. The stock has a 50 day moving average price of $6.68 and a 200-day moving average price of $6.67.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.04. The company had revenue of $70.13 million for the quarter, compared to analyst estimates 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 forecast that indie Semiconductor, Inc. will post -0.42 earnings per share for the current year.

Insider Activity at indie Semiconductor

In other news, COO Michael Wittmann sold 8,700 shares of the business's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.95, for a total transaction of $60,465.00. Following the transaction, the chief operating officer now directly owns 35,460 shares in the company, valued at approximately $246,447. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Michael Wittmann sold 8,700 shares of indie Semiconductor stock in a transaction on Monday, March 11th. The stock was sold at an average price of $6.95, for a total transaction of $60,465.00. Following the transaction, the chief operating officer now owns 35,460 shares in the company, valued at approximately $246,447. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the completion of the sale, the chief executive officer now directly owns 76,750 shares of the company's stock, valued at approximately $479,687.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,491 shares of company stock valued at $730,936. Corporate insiders own 9.90% of the company's stock.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its stake in indie Semiconductor by 3.6% during the fourth quarter. Legal & General Group Plc now owns 31,091 shares of the company's stock worth $181,000 after acquiring an additional 1,066 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of indie Semiconductor by 7.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,729 shares of the company's stock worth $103,000 after purchasing an additional 1,181 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in indie Semiconductor by 4.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 29,888 shares of the company's stock valued at $315,000 after buying an additional 1,297 shares during the period. Cresset Asset Management LLC raised its holdings in indie Semiconductor by 3.3% in the 1st quarter. Cresset Asset Management LLC now owns 42,975 shares of the company's stock valued at $453,000 after buying an additional 1,385 shares during the period. Finally, Psagot Value Holdings Ltd. Israel lifted its position in indie Semiconductor by 24.2% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company's stock valued at $69,000 after buying an additional 1,610 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

About indie Semiconductor

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.