Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $2.43 and last traded at $2.62, with a volume of 6763971 shares. The stock had previously closed at $2.77.
Wall Street Analysts Forecast Growth
INDI has been the topic of a number of recent research reports. UBS Group assumed coverage on shares of indie Semiconductor in a report on Friday, January 24th. They set a "neutral" rating and a $4.50 price target on the stock. KeyCorp cut their price objective on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, Benchmark reduced their target price on shares of indie Semiconductor from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, indie Semiconductor currently has a consensus rating of "Moderate Buy" and an average target price of $7.50.
Check Out Our Latest Research Report on INDI
indie Semiconductor Price Performance
The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The stock has a market capitalization of $591.61 million, a P/E ratio of -3.86 and a beta of 1.54. The firm has a fifty day moving average price of $3.92 and a two-hundred day moving average price of $4.00.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $58.01 million for the quarter, compared to the consensus estimate of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. As a group, analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Donald Mcclymont sold 50,000 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares of the company's stock, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Wittmann sold 18,375 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares of the company's stock, valued at approximately $118,326. The trade was a 38.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,512 shares of company stock worth $469,345. Corporate insiders own 8.20% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Regal Investment Advisors LLC lifted its position in indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock valued at $57,000 after purchasing an additional 3,988 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after purchasing an additional 4,023 shares during the period. Rhumbline Advisers raised its holdings in indie Semiconductor by 1.8% during the 4th quarter. Rhumbline Advisers now owns 239,090 shares of the company's stock valued at $968,000 after buying an additional 4,156 shares during the period. Invesco Ltd. lifted its position in indie Semiconductor by 5.5% in the fourth quarter. Invesco Ltd. now owns 93,328 shares of the company's stock worth $378,000 after buying an additional 4,879 shares during the last quarter. Finally, American Trust lifted its position in indie Semiconductor by 20.3% in the fourth quarter. American Trust now owns 34,845 shares of the company's stock worth $141,000 after buying an additional 5,869 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
indie Semiconductor Company Profile
(
Get Free Report)
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.
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