indie Semiconductor (NASDAQ:INDI) Shares Down 7.9% - What's Next?

Key Points

• indie Semiconductor shares fell 7.9% to about $2.40, with trading volume 61% below the average session volume. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans toward “Hold,” with one Buy, two Hold and one Sell rating and a consensus price target of $4.75. TD Cowen raised its target to $4.50, while Roth Capital set a $5.00 target.
• Quarterly revenue rose 24% year over year to $64.01 million, exceeding expectations, but the company remains unprofitable with a negative net margin of 65.18%. Insiders sold 347,611 shares worth approximately $1.29 million over the past 90 days.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) shares fell 7.9% on Monday. The stock traded as low as $2.42 and last traded at $2.3950. Approximately 2,089,356 shares changed hands during trading, a decline of 61% from the average session volume of 5,328,612 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INDI. Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. TD Cowen upped their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a research report on Monday, July 13th. Finally, Roth Capital set a $5.00 price target on shares of indie Semiconductor in a research note on Friday, August 7th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $4.75.

indie Semiconductor Price Performance

The business has a fifty day moving average of $3.47 and a two-hundred day moving average of $3.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The firm has a market capitalization of $545.91 million, a price-to-earnings ratio of -3.25 and a beta of 2.99.

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

Insider Transactions at indie Semiconductor

In related news, COO Michael Wittmann sold 40,625 shares of the company's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $3.59, for a total transaction of $145,843.75. Following the completion of the sale, the chief operating officer owned 115,922 shares of the company's stock, valued at $416,159.98. This represents a 25.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sonalee Parekh sold 59,932 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $4.07, for a total transaction of $243,923.24. Following the sale, the director owned 99,857 shares in the company, valued at $406,417.99. The trade was a 37.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 347,611 shares of company stock valued at $1,286,707. 2.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

indie Semiconductor Company Profile

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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