indie Semiconductor (NASDAQ:INDI) Shares Gap Down – What’s Next?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) gapped down prior to trading on Friday . The stock had previously closed at $4.36, but opened at $4.23. indie Semiconductor shares last traded at $4.23, with a volume of 653,122 shares.

Analyst Ratings Changes

INDI has been the subject of a number of research reports. UBS Group initiated coverage on indie Semiconductor in a research report on Friday. They set a “neutral” rating and a $4.50 price objective for the company. Benchmark lowered their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Roth Mkm cut their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, indie Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $8.29.

indie Semiconductor Stock Down 0.6 %

The company has a market capitalization of $875.32 million, a PE ratio of -6.53 and a beta of 1.41. The company’s fifty day moving average is $4.40 and its 200-day moving average is $4.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). The firm had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $53.65 million. indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. During the same period last year, the company earned ($0.17) earnings per share. As a group, analysts predict that indie Semiconductor, Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the sale, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the transaction, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $79,092.81. The trade was a 73.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,593 shares of company stock worth $1,272,291. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of indie Semiconductor

Several hedge funds have recently modified their holdings of INDI. General American Investors Co. Inc. grew its position in indie Semiconductor by 46.5% in the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after acquiring an additional 427,928 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of indie Semiconductor by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock valued at $5,260,000 after purchasing an additional 120,071 shares during the last quarter. Geode Capital Management LLC lifted its position in indie Semiconductor by 7.5% in the third quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after buying an additional 276,739 shares during the last quarter. State Street Corp increased its position in indie Semiconductor by 2.3% during the third 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 last quarter. Finally, Barclays PLC raised its stake in shares of indie Semiconductor by 330.7% in the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock valued at $1,026,000 after acquiring an additional 197,179 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.