indie Semiconductor (NASDAQ:INDI) Stock Price Down 3.8% – Time to Sell?

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $12.00 target price on shares of indie Semiconductor in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Roth Mkm reduced their price objective on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $10.50.

indie Semiconductor Stock Performance

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 stock has a market cap of $661.14 million, a PE ratio of -7.22 and a beta of 1.20. The business’s 50-day moving average price is $3.83 and its 200-day moving average price is $5.38.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) earnings per share. As a group, equities research analysts expect that indie Semiconductor, Inc. will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the sale, the chief financial officer now directly owns 977,192 shares in the company, valued at approximately $3,742,645.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently modified their holdings of the stock. Tempus Wealth Planning LLC increased its stake in indie Semiconductor by 61.6% during the 3rd quarter. Tempus Wealth Planning LLC now owns 36,121 shares of the company’s stock valued at $144,000 after purchasing an additional 13,768 shares in the last quarter. Creative Planning purchased a new stake in shares of indie Semiconductor during the third quarter valued at $75,000. Artemis Investment Management LLP purchased a new stake in shares of indie Semiconductor during the third quarter valued at $4,478,000. American Trust acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $139,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in indie Semiconductor in the 2nd quarter worth $105,000. Institutional investors and hedge funds 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.