indie Semiconductor (NASDAQ:INDI) Shares Down 4.2% on Insider Selling

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price was down 4.2% on Monday after an insider sold shares in the company. The stock traded as low as $6.11 and last traded at $6.11. Approximately 741,778 shares changed hands during trading, a decline of 74% from the average daily volume of 2,804,822 shares. The stock had previously closed at $6.38.

Specifically, President Ichiro Aoki sold 75,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $7.09, for a total value of $531,750.00. Following the completion of the sale, the president now owns 36,631 shares of the company’s stock, valued at approximately $259,713.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other indie Semiconductor news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total transaction of $75,800.00. Following the completion of the sale, the director now owns 75,185 shares in the company, valued at $569,902.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Ichiro Aoki sold 75,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $7.09, for a total transaction of $531,750.00. Following the sale, the president now directly owns 36,631 shares in the company, valued at $259,713.79. The disclosure for this sale can be found here. Insiders have sold 350,015 shares of company stock worth $2,271,749 in the last ninety days. 8.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, May 10th. B. Riley restated a “buy” rating and set a $13.50 price objective (down from $14.50) on shares of indie Semiconductor in a research note on Friday, May 10th. Finally, KeyCorp cut their target price on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor currently has a consensus rating of “Buy” and a consensus target price of $12.64.

indie Semiconductor Trading Up 0.2 %

The firm has a market capitalization of $1.14 billion, a P/E ratio of -12.43 and a beta of 1.24. The business’s 50 day moving average is $6.33 and its two-hundred day moving average is $6.76. The company has a quick ratio of 1.49, a current ratio of 1.74 and a debt-to-equity ratio of 0.34.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). The company had revenue of $52.35 million for the quarter, compared to the consensus estimate of $56.30 million. indie Semiconductor had a negative return on equity of 21.08% and a negative net margin of 32.12%. Analysts expect that indie Semiconductor, Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Nisa Investment Advisors LLC boosted its stake in indie Semiconductor by 269.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $50,000 after buying an additional 4,470 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of indie Semiconductor during the 1st quarter valued at about $53,000. Newbridge Financial Services Group Inc. grew its stake in shares of indie Semiconductor by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after purchasing an additional 2,000 shares during the last quarter. Psagot Value Holdings Ltd. Israel raised its holdings in shares of indie Semiconductor by 24.2% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after purchasing an additional 1,610 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in indie Semiconductor by 66.7% during the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after purchasing an additional 4,000 shares during the last quarter. 67.73% of the stock is owned by 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.