indie Semiconductor (NASDAQ:INDI) Stock Price Down 5.4% – Time to Sell?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price traded down 5.4% during mid-day trading on Monday . The stock traded as low as $4.22 and last traded at $4.22. 244,641 shares changed hands during trading, a decline of 92% from the average session volume of 2,889,697 shares. The stock had previously closed at $4.46.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on INDI shares. Roth Mkm reduced their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark lowered their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $9.79.

indie Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 2.20. The company has a market cap of $821.27 million, a PE ratio of -6.42 and a beta of 1.22. The business has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $5.11.

Insider Buying and Selling at indie Semiconductor

In other news, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $3,742,645.36. The trade was a 7.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 278,531 shares of company stock valued at $1,242,915. 8.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INDI. Geode Capital Management LLC raised its position in shares of indie Semiconductor by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after purchasing an additional 276,739 shares during the last quarter. Barclays PLC lifted its stake in shares of indie Semiconductor by 330.7% during the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after buying an additional 197,179 shares during the period. State Street Corp increased its position in shares of indie Semiconductor by 2.3% in the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after acquiring an additional 161,132 shares during the period. Harber Asset Management LLC purchased a new position in indie Semiconductor in the 3rd quarter worth $3,406,000. Finally, Bamco Inc. NY lifted its position in indie Semiconductor by 0.6% during the 3rd quarter. Bamco Inc. NY now owns 15,240,606 shares of the company’s stock worth $60,810,000 after acquiring an additional 89,181 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

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.