indie Semiconductor (NASDAQ:INDI) Shares Down 4.5% – What’s Next?

indie Semiconductor, Inc. (NASDAQ:INDI) shares fell 4.5% during mid-day trading on Monday . The company traded as low as $4.22 and last traded at $4.23. 665,140 shares were traded during trading, a decline of 79% from the average session volume of 3,240,456 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark decreased their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Roth Mkm lowered their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor currently has an average rating of “Buy” and a consensus target price of $8.92.

indie Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The company has a market cap of $831.89 million, a price-to-earnings ratio of -6.15 and a beta of 1.37. The firm’s 50-day moving average price is $4.16 and its 200 day moving average price is $4.85.

Insiders Place Their Bets

In related news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at $79,092.81. This trade represents a 73.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 253,081 shares of company stock valued at $1,174,446. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Large investors have recently bought and sold shares of the company. Primecap Management Co. CA increased its position in shares of indie Semiconductor by 61.4% in the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after buying an additional 9,689,326 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after acquiring an additional 2,377,612 shares during the period. Artemis Investment Management LLP bought a new stake in shares of indie Semiconductor in the third quarter worth about $4,478,000. Harber Asset Management LLC bought a new stake in shares of indie Semiconductor in the third quarter worth about $3,406,000. Finally, General American Investors Co. Inc. lifted its holdings in shares of indie Semiconductor by 46.5% during the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock valued at $5,376,000 after purchasing an additional 427,928 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

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.