indie Semiconductor (NASDAQ:INDI) Trading Down 5%

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price traded down 5% during trading on Monday . The company traded as low as $3.95 and last traded at $3.96. 623,268 shares changed hands during trading, a decline of 77% from the average session volume of 2,759,223 shares. The stock had previously closed at $4.17.

Analyst Ratings Changes

Several research firms recently issued reports on INDI. Roth Mkm dropped their target price on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of indie Semiconductor in a report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $10.50.

indie Semiconductor Trading Down 5.5 %

The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $4.40 and a 200 day moving average of $5.69. The firm has a market cap of $735.85 million, a PE ratio of -8.51 and a beta of 1.20.

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

Insider Activity

In other news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now directly owns 977,192 shares in the company, valued at $3,742,645.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 80,260 shares of company stock valued at $311,514. 8.20% of the stock is currently owned by insiders.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG increased its position in shares of indie Semiconductor by 4,346.7% during the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock valued at $12,041,000 after acquiring an additional 1,451,308 shares in the last quarter. Ghisallo Capital Management LLC boosted its stake in shares of indie Semiconductor by 7.9% during the 4th quarter. Ghisallo Capital Management LLC now owns 264,948 shares of the company’s stock worth $2,149,000 after acquiring an additional 19,448 shares during the last quarter. Intrinsic Edge Capital Management LLC boosted its stake in shares of indie Semiconductor by 132.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock worth $23,466,000 after acquiring an additional 1,648,818 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in shares of indie Semiconductor by 40.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock valued at $25,453,000 after buying an additional 902,530 shares in the last quarter. Finally, Granahan Investment Management LLC lifted its stake in indie Semiconductor by 63.3% in the 4th quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock worth $107,008,000 after purchasing an additional 5,115,393 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.