indie Semiconductor (NASDAQ:INDI) Shares Down 4.2% After Insider Selling

indie Semiconductor, Inc. (NASDAQ:INDI) dropped 4.2% on Monday after an insider sold shares in the company. The stock traded as low as $6.11 and last traded at $6.11. Approximately 741,778 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 2,804,822 shares. The stock had previously closed at $6.38.

Specifically, President Ichiro Aoki sold 75,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $6.24, for a total value of $468,000.00. Following the completion of the sale, the president now owns 36,631 shares of the company’s stock, valued at $228,577.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other indie Semiconductor news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total value of $75,800.00. Following the completion of the sale, the director now owns 75,185 shares of the company’s stock, valued at $569,902.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Ichiro Aoki sold 75,000 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $6.24, for a total value of $468,000.00. Following the completion of the transaction, the president now owns 36,631 shares of the company’s stock, valued at approximately $228,577.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 350,015 shares of company stock valued at $2,271,749. 8.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price target on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, May 10th. KeyCorp dropped their price target on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, B. Riley restated a “buy” rating and issued a $13.50 price target (down previously from $14.50) on shares of indie Semiconductor in a research report on Friday, May 10th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor currently has an average rating of “Buy” and a consensus price target of $12.64.

indie Semiconductor Trading Down 4.7 %

The stock has a market cap of $1.14 billion, a PE ratio of -12.41 and a beta of 1.24. The business has a 50-day moving average of $6.32 and a 200 day moving average of $6.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.74.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). The company had revenue of $52.35 million for the quarter, compared to analysts’ expectations of $56.30 million. indie Semiconductor had a negative return on equity of 21.08% and a negative net margin of 32.12%. Equities research analysts predict that indie Semiconductor, Inc. will post -0.62 EPS for the current fiscal year.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INDI. Nisa Investment Advisors LLC grew its holdings in indie Semiconductor by 269.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $50,000 after buying an additional 4,470 shares during the period. Financial Management Professionals Inc. purchased a new stake in indie Semiconductor in the 1st quarter valued at about $53,000. Newbridge Financial Services Group Inc. grew its holdings in 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 period. Psagot Value Holdings Ltd. Israel grew its holdings in indie Semiconductor by 24.2% in the 4th 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 period. Finally, Quent Capital LLC grew its holdings in indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.