indie Semiconductor (NASDAQ:INDI) Reaches New 52-Week Low – Should You Sell?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.10 and last traded at $3.16, with a volume of 647886 shares changing hands. The stock had previously closed at $3.20.

Analyst Ratings Changes

INDI has been the topic of a number of recent research reports. UBS Group initiated coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective on the stock. KeyCorp lowered their target price on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Roth Mkm lowered their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Benchmark lowered their price objective on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.50.

indie Semiconductor Price Performance

The firm has a market capitalization of $620.89 million, a P/E ratio of -4.05 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The business has a 50 day simple moving average of $4.10 and a two-hundred day simple moving average of $4.05.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. On average, sell-side analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity at indie Semiconductor

In other 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 transaction of $75,337.50. Following the sale, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,512 shares of company stock valued at $313,345. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of INDI. Primecap Management Co. CA raised its holdings in indie Semiconductor by 3.2% in the fourth quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company’s stock valued at $106,465,000 after acquiring an additional 819,321 shares in the last quarter. Bamco Inc. NY lifted its position in indie Semiconductor by 30.6% during the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company’s stock worth $80,602,000 after acquiring an additional 4,661,220 shares during the period. Frontier Capital Management Co. LLC increased its stake in indie Semiconductor by 60.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company’s stock valued at $70,366,000 after buying an additional 6,517,978 shares during the period. Vanguard Group Inc. increased its stake in shares of indie Semiconductor by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company’s stock worth $50,970,000 after acquiring an additional 942,088 shares during the period. Finally, State Street Corp raised its stake 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 buying an additional 161,132 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.