indie Semiconductor (NASDAQ:INDI) Hits New 12-Month Low at $3.80

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $3.80 and last traded at $3.83, with a volume of 1274132 shares traded. The stock had previously closed at $4.12.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. KeyCorp dropped their target price on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Roth Mkm decreased their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, B. Riley restated a “buy” rating and set a $13.50 price target (down from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $11.21.

indie Semiconductor Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. The company has a market capitalization of $819.29 million, a price-to-earnings ratio of -8.49 and a beta of 1.22. The business’s 50-day simple moving average is $5.51 and its 200-day simple moving average is $6.16.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The company had revenue of $52.40 million during the quarter, compared to analysts’ expectations of $53.61 million. During the same period in the prior year, the business posted ($0.11) EPS. indie Semiconductor’s revenue was up .6% on a year-over-year basis. On average, research analysts expect that indie Semiconductor, Inc. will post -0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Ichiro Aoki sold 50,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $6.14, for a total value of $307,000.00. Following the completion of the sale, the president now owns 36,631 shares of the company’s stock, valued at approximately $224,914.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $6.14, for a total transaction of $307,000.00. Following the completion of the sale, the president now owns 36,631 shares of the company’s stock, valued at approximately $224,914.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total value of $75,800.00. Following the transaction, the director now owns 75,185 shares in the company, valued at approximately $569,902.30. The disclosure for this sale can be found here. Insiders sold a total of 288,351 shares of company stock valued at $1,892,205 in the last quarter. 8.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund boosted its holdings in shares of indie Semiconductor by 322.4% during the 4th quarter. New York State Common Retirement Fund now owns 190,186 shares of the company’s stock worth $1,542,000 after buying an additional 145,161 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of indie Semiconductor during the 4th quarter worth $111,000. Victory Capital Management Inc. grew its stake in shares of indie Semiconductor by 38.1% during the 4th quarter. Victory Capital Management Inc. now owns 18,589 shares of the company’s stock worth $151,000 after acquiring an additional 5,131 shares during the period. M&T Bank Corp grew its stake in shares of indie Semiconductor by 40.0% during the 4th quarter. M&T Bank Corp now owns 24,215 shares of the company’s stock worth $196,000 after acquiring an additional 6,914 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in indie Semiconductor by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,061,581 shares of the company’s stock worth $8,609,000 after purchasing an additional 79,753 shares during the period. 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.