indie Semiconductor (NASDAQ:INDI) Shares Down 6.1% – Should You Sell?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) fell 6.1% during trading on Tuesday . The company traded as low as $5.05 and last traded at $5.07. Approximately 969,180 shares were traded during trading, a decline of 67% from the average session volume of 2,893,333 shares. The stock had previously closed at $5.40.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced 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 note on Friday, August 9th. Benchmark decreased their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Roth Mkm cut their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $9.79.

indie Semiconductor Stock Up 0.6 %

The company has a market cap of $1.02 billion, a PE ratio of -7.51 and a beta of 1.22. The stock has a 50-day moving average of $3.95 and a 200-day moving average of $5.05. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Insiders Place Their Bets

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

Institutional Trading of indie Semiconductor

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in indie Semiconductor by 1,743.8% during 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. Wealth Effects LLC raised its holdings in shares of indie Semiconductor by 2.8% during the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock valued at $1,053,000 after buying an additional 4,600 shares in the last quarter. Register Financial Advisors LLC lifted its position in indie Semiconductor by 3.7% in the 2nd quarter. Register Financial Advisors LLC now owns 138,440 shares of the company’s stock worth $854,000 after buying an additional 5,000 shares during the last quarter. Tempus Wealth Planning LLC boosted its stake in indie Semiconductor by 30.6% in the second quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock worth $138,000 after buying an additional 5,238 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in indie Semiconductor by 14.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock valued at $306,000 after acquiring an additional 5,394 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

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.