indie Semiconductor (NASDAQ:INDI) Shares Gap Down – Time to Sell?

indie Semiconductor, Inc. (NASDAQ:INDI) gapped down prior to trading on Tuesday . The stock had previously closed at $5.28, but opened at $4.11. indie Semiconductor shares last traded at $4.29, with a volume of 1,830,484 shares trading hands.

Analyst Ratings Changes

INDI has been the topic of a number of analyst reports. Benchmark lowered their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Roth Mkm reduced their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor has a consensus rating of “Buy” and an average price target of $8.92.

indie Semiconductor Trading Down 5.1 %

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’s fifty day moving average is $4.07 and its 200 day moving average is $5.01.

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 200,000 shares of indie Semiconductor stock in a transaction 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 transaction, the chief executive officer now owns 18,351 shares in the company, valued at $86,433.21. This trade represents a 91.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA increased its holdings in shares of indie Semiconductor by 61.4% during the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after purchasing an additional 9,689,326 shares during the period. Bamco Inc. NY increased its holdings in shares of 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 purchasing an additional 89,181 shares during the period. State Street Corp increased its holdings in shares of indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after purchasing an additional 161,132 shares during the period. Geode Capital Management LLC increased its holdings in shares of indie Semiconductor by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after purchasing an additional 276,739 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of 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 purchasing an additional 2,377,612 shares during the period. Institutional investors own 67.73% of the company’s stock.

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.