indie Semiconductor (NASDAQ:INDI) Shares Down 5.4% – Time to Sell?

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price fell 5.4% during mid-day trading on Monday . The stock traded as low as $4.22 and last traded at $4.22. 244,641 shares traded hands during trading, a decline of 92% from the average session volume of 2,889,697 shares. The stock had previously closed at $4.46.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on INDI. Benchmark lowered their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Roth Mkm lowered their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, indie Semiconductor has an average rating of “Buy” and an average price target of $9.79.

indie Semiconductor Stock Up 14.7 %

The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $946.99 million, a PE ratio of -7.00 and a beta of 1.22. The business’s 50-day simple moving average is $3.83 and its 200-day simple moving average is $5.09.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at $86,433.21. This represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. This trade represents a 7.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,531 shares of company stock valued at $1,242,915. 8.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in INDI. GAMMA Investing LLC boosted its holdings in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares in the last quarter. Xponance Inc. acquired a new position in indie Semiconductor in the second quarter valued at approximately $63,000. Legato Capital Management LLC acquired a new position in indie Semiconductor in the second quarter valued at approximately $76,000. SlateStone Wealth LLC acquired a new position in indie Semiconductor in the second quarter valued at approximately $82,000. Finally, Algert Global LLC acquired a new stake in shares of indie Semiconductor in the second quarter valued at approximately $97,000. 67.73% of the stock is owned by institutional investors and hedge funds.

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.