indie Semiconductor (NASDAQ:INDI) Stock Price Down 3.5%

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price fell 3.5% during mid-day trading on Thursday . The company traded as low as $5.55 and last traded at $5.58. 801,665 shares changed hands during trading, a decline of 67% from the average session volume of 2,462,878 shares. The stock had previously closed at $5.78.

Analyst Ratings Changes

A number of research firms recently issued reports on INDI. KeyCorp lowered their target price on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Craig Hallum lowered their target price on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $13.50.

indie Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. The stock has a 50-day moving average of $6.68 and a two-hundred day moving average of $6.67.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. The business had revenue of $70.13 million during the quarter, compared to analyst estimates of $72.69 million. Research analysts expect that indie Semiconductor, Inc. will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other indie Semiconductor news, COO Michael Wittmann sold 8,700 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.95, for a total transaction of $60,465.00. Following the completion of the sale, the chief operating officer now directly owns 35,460 shares in the company, valued at approximately $246,447. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the sale, the president now directly owns 31,208 shares in the company, valued at approximately $211,278.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Wittmann sold 8,700 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.95, for a total value of $60,465.00. Following the sale, the chief operating officer now owns 35,460 shares of the company’s stock, valued at $246,447. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,491 shares of company stock worth $730,936. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors have recently made changes to their positions in INDI. Swiss National Bank lifted its holdings in shares of indie Semiconductor by 7.3% during the 1st quarter. Swiss National Bank now owns 91,000 shares of the company’s stock valued at $711,000 after buying an additional 6,200 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of indie Semiconductor by 21.2% during the 1st quarter. Bank of New York Mellon Corp now owns 24,418 shares of the company’s stock valued at $191,000 after buying an additional 4,272 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of indie Semiconductor by 102.7% during the 1st quarter. Citigroup Inc. now owns 76,416 shares of the company’s stock valued at $597,000 after buying an additional 38,721 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of indie Semiconductor by 4.0% during the 1st quarter. BlackRock Inc. now owns 921,562 shares of the company’s stock valued at $7,197,000 after buying an additional 35,596 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of indie Semiconductor by 1.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,162,433 shares of the company’s stock valued at $9,079,000 after buying an additional 21,369 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.