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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) gapped down prior to trading on Friday . The stock had previously closed at $4.36, but opened at $4.23. indie Semiconductor shares last traded at $4.23, with a volume of 653,122 shares.

Analysts Set New Price Targets

Several equities research analysts have issued reports on INDI shares. UBS Group assumed coverage on shares of indie Semiconductor in a research report on Friday. They issued a “neutral” rating and a $4.50 price objective for the company. Benchmark dropped their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, indie Semiconductor presently has a consensus rating of “Moderate Buy” and an average target price of $8.29.

indie Semiconductor Stock Performance

The business has a 50-day moving average of $4.40 and a two-hundred day moving average of $4.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The company has a market cap of $875.32 million, a P/E ratio of -6.53 and a beta of 1.41.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The firm had revenue of $53.97 million for the quarter, compared to the consensus estimate of $53.65 million. indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. During the same quarter last year, the firm earned ($0.17) EPS. On average, sell-side analysts predict that indie Semiconductor, Inc. will post -0.74 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the transaction, the chief executive officer now owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction 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 sale, the chief operating officer now owns 28,860 shares of the company’s stock, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,593 shares of company stock valued at $1,272,291 in the last quarter. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in indie Semiconductor by 61.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,127,024 shares of the company’s stock worth $6,954,000 after buying an additional 427,372 shares during the period. Sei Investments Co. raised its holdings in shares of indie Semiconductor by 72.3% during the second quarter. Sei Investments Co. now owns 215,128 shares of the company’s stock worth $1,327,000 after purchasing an additional 90,266 shares during the last quarter. Xponance Inc. acquired a new position in indie Semiconductor during the second quarter valued at $63,000. Marshall Wace LLP boosted its holdings in indie Semiconductor by 510.4% in the second quarter. Marshall Wace LLP now owns 167,100 shares of the company’s stock valued at $1,031,000 after purchasing an additional 139,723 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in indie Semiconductor during the 2nd quarter worth about $2,142,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.