indie Semiconductor (NASDAQ:INDI) Trading Down 6.8%

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price traded down 6.8% on Friday . The company traded as low as $3.57 and last traded at $3.58. 1,505,860 shares were traded during mid-day trading, a decline of 45% from the average session volume of 2,757,464 shares. The stock had previously closed at $3.84.

Analyst Ratings Changes

Several research firms have recently commented on INDI. Deutsche Bank Aktiengesellschaft decreased their target price on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Roth Mkm decreased their price objective on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $11.21.

indie Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20. The company’s fifty day moving average price is $5.23 and its 200 day moving average price is $6.01. The company has a market cap of $692.94 million, a PE ratio of -7.16 and a beta of 1.20.

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

Insider Buying and Selling

In other indie Semiconductor news, President Ichiro Aoki sold 75,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $7.09, for a total value of $531,750.00. Following the completion of the transaction, the president now owns 36,631 shares in the company, valued at approximately $259,713.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other indie Semiconductor news, President Ichiro Aoki sold 75,000 shares of indie Semiconductor stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $7.09, for a total value of $531,750.00. Following the sale, the president now owns 36,631 shares of the company’s stock, valued at $259,713.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of indie Semiconductor stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total transaction of $75,800.00. Following the completion of the sale, the director now directly owns 75,185 shares in the company, valued at approximately $569,902.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 366,882 shares of company stock worth $2,193,120. 8.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after purchasing an additional 3,906 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in indie Semiconductor during the 1st quarter worth approximately $53,000. Newbridge Financial Services Group Inc. lifted its stake 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 worth $56,000 after purchasing an additional 2,000 shares in the last quarter. Xponance Inc. bought a new position in indie Semiconductor in the 2nd quarter valued at $63,000. Finally, Psagot Value Holdings Ltd. Israel grew its position in shares of indie Semiconductor by 24.2% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock valued at $69,000 after purchasing an additional 1,610 shares in the last quarter. 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.