indie Semiconductor (NASDAQ:INDI) Shares Down 3.5%

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price dropped 3.5% during mid-day trading on Thursday . The company traded as low as $5.55 and last traded at $5.58. Approximately 801,665 shares were traded during 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 dropped their target price on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Craig Hallum dropped their target price on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.50.

indie Semiconductor Stock Down 3.2 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. The firm’s 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $6.65.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. The firm had revenue of $70.13 million during the quarter, compared to analysts’ expectations of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. As a group, equities research analysts forecast that indie Semiconductor, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $6.77, for a total value of $338,500.00. Following the completion of the sale, the president now owns 31,208 shares in the company, valued at approximately $211,278.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Michael Wittmann sold 8,700 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at $246,447. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Ichiro Aoki sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the sale, the president now directly owns 31,208 shares of the company’s stock, valued at $211,278.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,491 shares of company stock worth $730,936. 9.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of INDI. Bamco Inc. NY raised its stake in shares of indie Semiconductor by 88.9% during the third quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock worth $69,545,000 after buying an additional 5,193,775 shares during the last quarter. Granahan Investment Management LLC raised its stake in shares of indie Semiconductor by 63.3% during the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock worth $107,008,000 after buying an additional 5,115,393 shares during the last quarter. State Street Corp raised its stake in shares of indie Semiconductor by 64.2% during the second quarter. State Street Corp now owns 6,943,221 shares of the company’s stock worth $65,266,000 after buying an additional 2,715,874 shares during the last quarter. BlackRock Inc. raised its stake in shares of indie Semiconductor by 36.7% during the second quarter. BlackRock Inc. now owns 8,849,734 shares of the company’s stock worth $83,187,000 after buying an additional 2,377,645 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in indie Semiconductor by 1,018.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,921,108 shares of the company’s stock valued at $15,580,000 after purchasing an additional 1,749,397 shares during the period. 67.73% of the stock is owned by institutional investors.

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.