indie Semiconductor (NASDAQ:INDI) Sets New 12-Month Low at $3.76

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $3.76 and last traded at $3.78, with a volume of 2816136 shares changing hands. The stock had previously closed at $4.15.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. KeyCorp decreased their price objective on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Roth Mkm reduced their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. B. Riley reissued a “buy” rating and issued a $13.50 price objective (down from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Buy” and a consensus price target of $11.21.

indie Semiconductor Trading Down 1.4 %

The business has a 50 day simple moving average of $5.29 and a 200-day simple moving average of $6.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. The stock has a market capitalization of $758.09 million, a P/E ratio of -7.84 and a beta of 1.20.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). The company had revenue of $52.40 million during the quarter, compared to the consensus estimate of $53.61 million. indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) EPS. On average, analysts predict that indie Semiconductor, Inc. will post -0.7 EPS for the current year.

Insider Buying and Selling

In related news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was 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 directly owns 75,185 shares in the company, valued at $569,902.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other indie Semiconductor news, President Ichiro Aoki sold 75,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $6.52, for a total transaction of $489,000.00. Following the transaction, the president now directly owns 36,631 shares of the company’s stock, valued at $238,834.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total transaction of $75,800.00. Following the transaction, the director now directly owns 75,185 shares in the company, valued at $569,902.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 366,882 shares of company stock worth $2,193,120. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA increased its stake in indie Semiconductor by 93.5% during the second quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company’s stock valued at $97,357,000 after acquiring an additional 7,624,797 shares during the period. Granahan Investment Management LLC increased its stake in indie Semiconductor by 63.3% during the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after acquiring an additional 5,115,393 shares during the period. Bamco Inc. NY increased its stake in indie Semiconductor by 28.0% during the first quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock valued at $101,144,000 after acquiring an additional 3,121,255 shares during the period. Intrinsic Edge Capital Management LLC increased its stake in indie Semiconductor by 132.5% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock valued at $23,466,000 after acquiring an additional 1,648,818 shares during the period. Finally, UBS Group AG increased its stake in indie Semiconductor by 4,346.7% during the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock valued at $12,041,000 after acquiring an additional 1,451,308 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

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.