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

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.

Wall Street Analyst Weigh In

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

indie Semiconductor Stock Performance

The firm’s 50-day moving average price is $4.06 and its two-hundred day moving average price is $4.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The stock has a market cap of $607.77 million, a price-to-earnings ratio of -3.96 and a beta of 1.41.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $58.01 million for the quarter, compared to analyst estimates 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, analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the company’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 $79,092.81. This represents a 73.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Michael Wittmann sold 18,375 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the transaction, the chief operating officer now directly owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,512 shares of company stock valued at $313,345 over the last 90 days. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Creative Planning purchased a new stake in indie Semiconductor during the third quarter worth about $75,000. Harbor Capital Advisors Inc. increased its stake in indie Semiconductor by 290.6% during the third 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. General American Investors Co. Inc. increased its stake in indie Semiconductor by 46.5% during the third 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 during the period. Bouvel Investment Partners LLC increased its stake in indie Semiconductor by 33.2% during the third quarter. Bouvel Investment Partners LLC now owns 186,119 shares of the company’s stock worth $743,000 after purchasing an additional 46,400 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in indie Semiconductor by 115.4% during the third quarter. Advisors Asset Management Inc. now owns 60,392 shares of the company’s stock worth $241,000 after purchasing an additional 32,353 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.