indie Semiconductor (NASDAQ:INDI) Sets New 1-Year Low - Should You Sell?

Key Points

• indie Semiconductor shares fell 10.4% to a new 52-week low of $2.32, well below their 50-day and 200-day moving averages.
• Analyst sentiment is cautious: the stock has an average “Hold” rating and a consensus price target of $4.75, while targets range from $4.50 to $5.00 and one firm rates it a sell.
• The company’s latest revenue rose 24% year over year to $64.01 million and matched its expected loss of $0.05 per share, but it remains unprofitable with a negative net margin; insiders sold 347,611 shares worth about $1.29 million over the past 90 days.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report)'s stock price reached a new 52-week low on Tuesday. The stock traded as low as $2.32 and last traded at $2.33, with a volume of 4,148,823 shares changing hands. The stock had previously closed at $2.60.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Cowen raised their target price on indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a report on Monday, July 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research report on Friday, July 17th. Finally, Roth Capital set a $5.00 price target on shares of indie Semiconductor in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.75.

indie Semiconductor Stock Down 10.4%

The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $540.12 million, a P/E ratio of -3.19 and a beta of 2.99. The firm's 50 day moving average price is $3.45 and its two-hundred day moving average price is $3.75.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The business had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The firm's revenue for the quarter was up 24.0% on a year-over-year basis. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 42,468 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $4.10, for a total transaction of $174,118.80. Following the sale, the chief operating officer directly owned 96,884 shares of the company's stock, valued at approximately $397,224.40. This represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sonalee Parekh sold 59,932 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $4.07, for a total transaction of $243,923.24. Following the completion of the sale, the director owned 99,857 shares of the company's stock, valued at approximately $406,417.99. This represents a 37.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 347,611 shares of company stock worth $1,286,707 over the last 90 days. Company insiders own 2.57% of the company's stock.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently bought and sold shares of INDI. Optiver Holding B.V. lifted its position in shares of indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company's stock valued at $26,000 after buying an additional 8,095 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of indie Semiconductor during the 2nd quarter worth approximately $49,000. Principal Financial Group Inc. bought a new position in shares of indie Semiconductor during the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company's stock worth $39,000 after acquiring an additional 10,999 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of indie Semiconductor by 37.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 28,199 shares of the company's stock worth $91,000 after acquiring an additional 7,724 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

About indie Semiconductor

indie Semiconductor, Inc is a fabless semiconductor company that develops technology for the automotive industry. Its products are designed to support advanced driver-assistance systems (ADAS), vehicle electrification, connected-car applications and enhanced in-cabin experiences.

The company's portfolio includes semiconductors and system solutions for computer vision, lidar and radar sensing, automotive networking, LED lighting, infotainment and user-interface applications. Its technologies are intended for use in systems such as automated parking, driver monitoring, vehicle detection, digital cockpit displays and other software-defined vehicle functions.

indie Semiconductor serves automotive original equipment manufacturers and Tier 1 suppliers globally.

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