indie Semiconductor (NASDAQ:INDI) Stock Price Down 3.8% - Should You Sell?

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INDI shares. Roth Mkm decreased their target price on indie Semiconductor from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their target price on indie Semiconductor from $9.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Finally, Benchmark restated a "buy" rating and set a $12.00 price target on shares of indie Semiconductor in a report on Tuesday, September 10th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor has an average rating of "Buy" and an average target price of $10.50.

indie Semiconductor Trading Down 5.4 %

The firm has a market cap of $685.05 million, a PE ratio of -6.80 and a beta of 1.20. 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 business has a fifty day moving average price of $3.83 and a 200 day moving average price of $5.38.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting analysts' consensus estimates of ($0.09). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The business had revenue of $52.40 million for the quarter, compared to the consensus estimate of $53.61 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The business's revenue for the quarter was up .6% on a year-over-year basis. Analysts forecast that indie Semiconductor, Inc. will post -0.7 EPS for the current year.

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the firm'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 transaction of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. This trade represents 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.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in indie Semiconductor by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company's stock worth $192,000 after buying an additional 2,131 shares during the last quarter. Principal Financial Group Inc. lifted its position in indie Semiconductor by 15.3% during the 1st quarter. Principal Financial Group Inc. now owns 20,162 shares of the company's stock worth $143,000 after acquiring an additional 2,674 shares during the period. GAMMA Investing LLC lifted its position in indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company's stock worth $25,000 after acquiring an additional 3,906 shares during the period. Quent Capital LLC lifted its position in indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company's stock worth $71,000 after acquiring an additional 4,000 shares during the period. Finally, Wealth Effects LLC lifted its position in indie Semiconductor by 2.8% during the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company's stock worth $1,053,000 after acquiring an additional 4,600 shares during the period. Hedge funds and other 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.