indie Semiconductor (NASDAQ:INDI) Trading Down 4.9%

indie Semiconductor, Inc. (NASDAQ:INDI) dropped 4.9% during mid-day trading on Monday . The stock traded as low as $3.70 and last traded at $3.72. Approximately 470,991 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,784,661 shares. The stock had previously closed at $3.91.

Analyst Upgrades and Downgrades

Several equities analysts have commented on INDI shares. Deutsche Bank Aktiengesellschaft cut their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Roth Mkm lowered their price target on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Benchmark restated a “buy” rating and set a $12.00 price objective on shares of indie Semiconductor in a report on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $10.50.

indie Semiconductor Stock Down 2.6 %

The business has a 50 day moving average of $4.96 and a two-hundred day moving average of $5.90. The stock has a market capitalization of $711.57 million, a PE ratio of -7.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The company had revenue of $52.40 million during the quarter, compared to analysts’ expectations of $53.61 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. indie Semiconductor’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts predict that indie Semiconductor, Inc. will post -0.7 EPS for the current year.

Insider Buying and Selling

In other news, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the sale, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, President Ichiro Aoki sold 50,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $6.14, for a total value of $307,000.00. Following the sale, the president now owns 36,631 shares in the company, valued at $224,914.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The disclosure for this sale can be found here. Insiders have sold a total of 281,882 shares of company stock worth $1,585,570 in the last ninety days. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors have recently made changes to their positions in INDI. Victory Capital Management Inc. increased its holdings in indie Semiconductor by 38.1% in the fourth quarter. Victory Capital Management Inc. now owns 18,589 shares of the company’s stock valued at $151,000 after buying an additional 5,131 shares in the last quarter. M&T Bank Corp raised its holdings in indie Semiconductor by 40.0% in the 4th quarter. M&T Bank Corp now owns 24,215 shares of the company’s stock worth $196,000 after purchasing an additional 6,914 shares during the period. Charles Schwab Investment Management Inc. boosted its position in indie Semiconductor by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,061,581 shares of the company’s stock worth $8,609,000 after purchasing an additional 79,753 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of indie Semiconductor by 44.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 519,049 shares of the company’s stock worth $4,209,000 after buying an additional 158,671 shares during the period. Finally, UBS Group AG lifted its position in shares of indie Semiconductor by 4,346.7% during the 4th quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock valued at $12,041,000 after buying an additional 1,451,308 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.