indie Semiconductor (NASDAQ:INDI) Stock Price Down 3.8% – Time to Sell?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) fell 3.8% during mid-day trading on Monday . The stock traded as low as $3.53 and last traded at $3.53. 132,827 shares changed hands during trading, a decline of 95% from the average session volume of 2,697,167 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INDI. 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 research note on Friday, August 9th. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of indie Semiconductor in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Buy” and an average target price of $10.50.

indie Semiconductor Stock Performance

The company’s fifty day simple moving average is $3.84 and its 200 day simple moving average is $5.40. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $681.10 million, a P/E ratio of -6.76 and a beta of 1.20.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $52.40 million during the quarter, compared to the consensus estimate of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS. As a group, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of indie Semiconductor by 1,743.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after acquiring an additional 3,906 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of indie Semiconductor during the first quarter valued at approximately $53,000. Quent Capital LLC grew its holdings in shares of indie Semiconductor by 66.7% in the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after purchasing an additional 4,000 shares during the last quarter. Xponance Inc. bought a new stake in indie Semiconductor during the 2nd quarter valued at $63,000. Finally, Legato Capital Management LLC purchased a new stake in indie Semiconductor during the 2nd quarter valued at $76,000. 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.