indie Semiconductor (NASDAQ:INDI) Trading Down 4.1%

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price was down 4.1% during trading on Wednesday . The company traded as low as $10.70 and last traded at $10.74. Approximately 19,463 shares were traded during trading, a decline of 98% from the average daily volume of 906,743 shares. The stock had previously closed at $11.20.

A number of equities research analysts have recently commented on INDI shares. Deutsche Bank Aktiengesellschaft started coverage on shares of indie Semiconductor in a report on Friday, July 23rd. They set a “buy” rating and a $14.00 price target on the stock. Craig Hallum initiated coverage on shares of indie Semiconductor in a research report on Monday, July 12th. They set a “buy” rating and a $18.00 price objective on the stock. B. Riley initiated coverage on shares of indie Semiconductor in a research report on Tuesday, August 24th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Friday, August 13th.

The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -69.87 and a beta of 0.18. The business has a 50-day moving average of $9.47.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Tuesday, August 10th. The company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.23). The business had revenue of $9.18 million for the quarter, compared to analyst estimates of $8.97 million. As a group, sell-side analysts predict that indie Semiconductor, Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berman Capital Advisors LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter valued at $49,000. National Asset Management Inc. bought a new stake in shares of indie Semiconductor during the 2nd quarter valued at $103,000. Penserra Capital Management LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter valued at $114,000. Jacobi Capital Management LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter valued at $125,000. Finally, Kepos Capital LP bought a new stake in shares of indie Semiconductor during the 2nd quarter valued at $138,000. Institutional investors and hedge funds own 13.82% of the company’s stock.

About indie Semiconductor (NASDAQ:INDI)

indie Semiconductor, a fabless semiconductor company, designs and manufactures custom mixed-signal microcontrollers for automotive, medical, industrial, and consumer applications. The company offers custom solutions, standard products, and building blocks. It also integrates analog sub-systems, such as RF transceivers, power management circuitry, and sensor interfaces.

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