indie Semiconductor (NASDAQ:INDI) Shares Down 6.1% – What’s Next?

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

Wall Street Analyst Weigh In

Several analysts have commented on INDI shares. Benchmark dropped their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Roth Mkm decreased their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $9.79.

indie Semiconductor Price Performance

The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $3.93 and a two-hundred day moving average price of $5.06. The firm has a market cap of $1.01 billion, a P/E ratio of -8.06 and a beta of 1.22.

Insider Activity

In other news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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. This represents a 7.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the sale, the chief executive officer now owns 18,351 shares in the company, valued at $86,433.21. The trade was a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 278,531 shares of company stock worth $1,242,915 over the last quarter. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in INDI. GAMMA Investing LLC increased its holdings in indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after buying an additional 3,906 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of indie Semiconductor in the 3rd quarter valued at about $58,000. Xponance Inc. acquired a new stake in indie Semiconductor in the 2nd quarter valued at about $63,000. Creative Planning acquired a new position in indie Semiconductor during the third quarter worth approximately $75,000. Finally, Legato Capital Management LLC bought a new stake in indie Semiconductor in the second quarter valued at approximately $76,000. Institutional investors own 67.73% of the company’s stock.

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.