indie Semiconductor (NASDAQ:INDI) Stock Price Down 5% – What’s Next?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price was down 5% during trading on Monday . The company traded as low as $4.07 and last traded at $4.07. Approximately 1,348,222 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 3,571,732 shares. The stock had previously closed at $4.28.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports 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. Benchmark dropped their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Roth Mkm decreased their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.29.

indie Semiconductor Stock Down 4.0 %

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 market capitalization of $732.97 million, a PE ratio of -5.42 and a beta of 1.41. The firm has a 50 day simple moving average of $4.23 and a two-hundred day simple moving average of $4.17.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the sale, the chief operating officer now directly owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,593 shares of company stock valued at $330,291. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

Several institutional investors have recently added to or reduced their stakes in INDI. The Manufacturers Life Insurance Company increased its position in indie Semiconductor by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 62,769 shares of the company’s stock worth $387,000 after buying an additional 6,608 shares during the period. Creative Planning purchased a new position in shares of indie Semiconductor during the third quarter valued at $75,000. Tempus Wealth Planning LLC increased its holdings in shares of indie Semiconductor by 61.6% in the 3rd quarter. Tempus Wealth Planning LLC now owns 36,121 shares of the company’s stock valued at $144,000 after purchasing an additional 13,768 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of indie Semiconductor by 290.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after buying an additional 2,377,612 shares during the period. Finally, General American Investors Co. Inc. increased its position in indie Semiconductor by 46.5% in the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after purchasing an additional 427,928 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.