indie Semiconductor (NASDAQ:INDI) Sets New 52-Week Low – Should You Sell?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price reached a new 52-week low on Thursday . The company traded as low as $3.10 and last traded at $3.16, with a volume of 647886 shares changing hands. The stock had previously closed at $3.20.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INDI shares. UBS Group started coverage on shares of indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price target on the stock. 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. KeyCorp lowered their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Benchmark lowered their price target on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, indie Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $7.50.

indie Semiconductor Stock Down 0.3 %

The business’s 50 day moving average is $4.06 and its 200 day moving average is $4.04. The company has a market capitalization of $607.77 million, a price-to-earnings ratio of -3.96 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michael Wittmann sold 18,375 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at $118,326. This represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,512 shares of company stock worth $313,345 in the last three months. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently bought and sold shares of the business. Primecap Management Co. CA raised its position in indie Semiconductor by 3.2% during the 4th quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company’s stock worth $106,465,000 after buying an additional 819,321 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of indie Semiconductor by 30.6% during the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company’s stock valued at $80,602,000 after purchasing an additional 4,661,220 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of indie Semiconductor by 60.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company’s stock valued at $70,366,000 after purchasing an additional 6,517,978 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of indie Semiconductor by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company’s stock valued at $50,970,000 after purchasing an additional 942,088 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after purchasing an additional 161,132 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.