indie Semiconductor (NASDAQ:INDI) Stock Price Down 3.5%

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price dropped 3.5% during trading on Thursday . The company traded as low as $5.55 and last traded at $5.58. Approximately 801,665 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,462,878 shares. The stock had previously closed at $5.78.

Wall Street Analysts Forecast Growth

INDI has been the subject of a number of recent analyst reports. KeyCorp reduced their target price on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Craig Hallum reduced their target price on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $13.50.

indie Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96. The firm has a 50 day moving average price of $6.68 and a 200-day moving average price of $6.67.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. The business had revenue of $70.13 million during the quarter, compared to the consensus estimate of $72.69 million. On average, analysts expect that indie Semiconductor, Inc. will post -0.42 EPS for the current fiscal year.

Insider Activity at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the transaction, the chief executive officer now owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the transaction, the chief executive officer now owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Wittmann sold 8,700 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $6.95, for a total transaction of $60,465.00. Following the completion of the transaction, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at approximately $246,447. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,491 shares of company stock valued at $730,936. 9.90% of the stock is owned by insiders.

Institutional Trading of indie Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INDI. Point72 Middle East FZE purchased a new stake in indie Semiconductor in the 4th quarter valued at about $28,000. UBS Group AG grew its holdings in indie Semiconductor by 384.8% in the 3rd quarter. UBS Group AG now owns 3,849 shares of the company’s stock valued at $29,000 after buying an additional 3,055 shares during the period. Nisa Investment Advisors LLC grew its holdings in indie Semiconductor by 269.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $50,000 after buying an additional 4,470 shares during the period. Financial Management Professionals Inc. purchased a new stake in indie Semiconductor in the 1st quarter valued at about $53,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in indie Semiconductor by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after buying an additional 2,000 shares during the period. Hedge funds and other 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.