indie Semiconductor (NASDAQ:INDI) Reaches New 12-Month Low - Time to Sell?

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.10 and last traded at $3.16, with a volume of 647886 shares traded. The stock had previously closed at $3.20.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group initiated coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They set a "neutral" rating and a $4.50 price objective for the company. KeyCorp cut their price target on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Roth Mkm decreased their price objective on indie Semiconductor from $7.00 to $5.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Finally, Benchmark cut their target price on 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 analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

indie Semiconductor Stock 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 firm has a 50 day moving average price of $4.03 and a two-hundred day moving average price of $4.03. The company has a market capitalization of $559.31 million, a P/E ratio of -3.64 and a beta of 1.41.

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indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The company had revenue of $58.01 million during 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%. On average, research analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at $79,092.81. This represents a 73.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the completion of 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. Insiders sold 123,512 shares of company stock worth $469,345 in the last quarter. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds have recently added to or reduced their stakes in INDI. National Bank of Canada FI lifted its position in shares of indie Semiconductor by 42.7% during the fourth 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 in the last quarter. ArrowMark Colorado Holdings LLC bought a new position in indie Semiconductor in the 4th quarter worth approximately $55,000. Regal Investment Advisors LLC lifted its holdings in indie Semiconductor by 39.2% during the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after buying an additional 3,988 shares in the last quarter. Virtu Financial LLC bought a new position in indie Semiconductor in the 3rd quarter valued at $58,000. Finally, Daiwa Securities Group Inc. boosted its position in indie Semiconductor by 74.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after buying an additional 6,363 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

indie Semiconductor Company Profile

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.