indie Semiconductor (NASDAQ:INDI) Reaches New 12-Month Low – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Benchmark dropped their price target on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, February 21st. KeyCorp dropped their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Roth Mkm dropped their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, UBS Group initiated coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, indie Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

indie Semiconductor Trading Down 3.9 %

The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $620.89 million, a PE ratio of -4.05 and a beta of 1.41. The stock’s fifty day simple moving average is $4.10 and its 200 day simple moving average is $4.05.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm 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%. On average, sell-side analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Activity at indie Semiconductor

In related news, COO Michael Wittmann sold 18,375 shares of the stock in a transaction on Monday, December 23rd. The stock was 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 $118,326. This represents a 38.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor 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 in the company, valued at $79,092.81. The trade was a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,512 shares of company stock worth $313,345 over the last three months. Company insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

Several large investors have recently modified their holdings of the business. American Trust raised its stake in shares of indie Semiconductor by 20.3% in the 4th quarter. American Trust now owns 34,845 shares of the company’s stock valued at $141,000 after acquiring an additional 5,869 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in indie Semiconductor by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company’s stock valued at $1,069,000 after acquiring an additional 32,979 shares in the last quarter. Two Sigma Investments LP bought a new position in indie Semiconductor in the 4th quarter valued at about $386,000. ProShare Advisors LLC grew its holdings in indie Semiconductor by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock worth $187,000 after acquiring an additional 15,202 shares during the period. Finally, Meros Investment Management LP raised its position in shares of indie Semiconductor by 43.4% during the fourth quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock worth $5,026,000 after purchasing an additional 375,624 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.