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

indie Semiconductor, Inc. (NASDAQ:INDI) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $3.76 and last traded at $3.78, with a volume of 2816136 shares traded. The stock had previously closed at $4.15.

Analysts Set New Price Targets

Several brokerages have recently commented on INDI. 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. Roth Mkm reduced their target price on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp reduced their target price on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Finally, B. Riley reissued a “buy” rating and issued a $13.50 target price (down from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor currently has a consensus rating of “Buy” and a consensus price target of $11.21.

indie Semiconductor Stock Down 1.4 %

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 firm’s 50-day moving average is $5.29 and its two-hundred day moving average is $6.04. The stock has a market cap of $758.09 million, a P/E ratio of -7.84 and a beta of 1.20.

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

Insider Activity at indie Semiconductor

In related news, President Ichiro Aoki sold 75,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $259,713.79. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, President Ichiro Aoki sold 75,000 shares of the company’s stock in a transaction on 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 transaction, the president now directly owns 36,631 shares of the company’s stock, valued at approximately $259,713.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of the company’s 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 transaction, the director now directly owns 75,185 shares of the company’s stock, valued at $569,902.30. The disclosure for this sale can be found here. Insiders sold a total of 366,882 shares of company stock worth $2,193,120 in the last quarter. Corporate insiders own 8.20% of the company’s stock.

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. Primecap Management Co. CA grew its holdings in shares of indie Semiconductor by 93.5% in the 2nd 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 in the last quarter. Bamco Inc. NY grew its holdings in shares of indie Semiconductor by 28.0% in the 1st 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 in the last quarter. Granahan Investment Management LLC grew its holdings 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 worth $107,008,000 after purchasing an additional 5,115,393 shares during the period. Vanguard Group Inc. grew its holdings in indie Semiconductor by 3.2% during the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after purchasing an additional 332,500 shares during the period. Finally, Frontier Capital Management Co. LLC grew its holdings in indie Semiconductor by 40.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock worth $25,453,000 after purchasing an additional 902,530 shares during the period. 67.73% of the stock is 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.