indie Semiconductor (NASDAQ:INDI) Shares Down 4.5% – Should You Sell?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price traded down 4.5% on Monday . The company traded as low as $4.22 and last traded at $4.23. 665,140 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 3,240,456 shares. The stock had previously closed at $4.43.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INDI shares. Benchmark decreased their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Roth Mkm decreased their price objective on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $8.92.

indie Semiconductor Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The business’s fifty day simple moving average is $4.12 and its 200 day simple moving average is $4.89. The stock has a market cap of $880.37 million, a price-to-earnings ratio of -6.61 and a beta of 1.37.

Insider Buying and Selling at indie Semiconductor

In related news, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at $86,433.21. The trade was a 91.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of indie Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. General American Investors Co. Inc. grew its position in indie Semiconductor by 46.5% during the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after purchasing an additional 427,928 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in indie Semiconductor by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock valued at $5,260,000 after buying an additional 120,071 shares during the period. Artemis Investment Management LLP purchased a new stake in indie Semiconductor in the 3rd quarter worth about $4,478,000. Calamos Advisors LLC acquired a new stake in indie Semiconductor during the 2nd quarter worth about $478,000. Finally, Harbor Capital Advisors Inc. boosted its position in indie Semiconductor by 290.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after acquiring an additional 2,377,612 shares during the period. Institutional investors and hedge funds 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.