indie Semiconductor (NASDAQ:INDI) Shares Down 7.5%

indie Semiconductor, Inc. (NASDAQ:INDIGet Free Report)’s share price was down 7.5% during trading on Tuesday . The stock traded as low as $6.65 and last traded at $6.66. Approximately 204,865 shares changed hands during trading, a decline of 92% from the average daily volume of 2,435,509 shares. The stock had previously closed at $7.20.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Craig Hallum cut their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. KeyCorp reduced their price objective on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $13.50.

Get Our Latest Analysis on INDI

indie Semiconductor Stock Performance

The stock has a 50 day moving average price of $6.70 and a two-hundred day moving average price of $6.67. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -7.72 and a beta of 1.15. The company has a current ratio of 1.96, a quick ratio of 1.72 and a debt-to-equity ratio of 0.33.

indie Semiconductor (NASDAQ:INDIGet Free Report) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. The business had revenue of $70.13 million during the quarter, compared to analysts’ expectations of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. Analysts predict that indie Semiconductor, Inc. will post -0.42 EPS for the current year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at $479,687.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other indie Semiconductor news, CFO Thomas Schiller sold 60,000 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $7.05, for a total value of $423,000.00. Following the sale, the chief financial officer now directly owns 1,093,562 shares in the company, valued at approximately $7,709,612.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the sale, the chief executive officer now owns 76,750 shares in the company, valued at approximately $479,687.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 171,491 shares of company stock valued at $1,153,936. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently modified their holdings of the company. Granahan Investment Management LLC grew its position in indie Semiconductor by 63.3% during the 4th quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after purchasing an additional 5,115,393 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of indie Semiconductor by 88.9% in the third quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock worth $69,545,000 after buying an additional 5,193,775 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of indie Semiconductor by 13.7% during the 4th quarter. Vanguard Group Inc. now owns 10,267,390 shares of the company’s stock worth $83,269,000 after acquiring an additional 1,239,378 shares in the last quarter. BlackRock Inc. lifted its position in indie Semiconductor by 36.7% during the second quarter. BlackRock Inc. now owns 8,849,734 shares of the company’s stock valued at $83,187,000 after purchasing an additional 2,377,645 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of indie Semiconductor by 64.2% in the 2nd quarter. State Street Corp now owns 6,943,221 shares of the company’s stock worth $65,266,000 after purchasing an additional 2,715,874 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About indie Semiconductor

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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.

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