indie Semiconductor (NASDAQ:INDI) Trading Down 5.4% – Should You Sell?

indie Semiconductor, Inc. (NASDAQ:INDI) was down 5.4% on Monday . The company traded as low as $4.22 and last traded at $4.22. Approximately 244,641 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 2,889,697 shares. The stock had previously closed at $4.46.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Roth Mkm cut their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Benchmark lowered their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, indie Semiconductor has an average rating of “Buy” and a consensus price target of $9.79.

indie Semiconductor Stock Down 6.7 %

The company’s 50 day moving average price is $3.78 and its two-hundred day moving average price is $5.11. The stock has a market cap of $821.27 million, a P/E ratio of -6.42 and a beta of 1.22. The company has a current ratio of 2.39, a quick ratio of 2.20 and a debt-to-equity ratio of 0.32.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the transaction, the chief financial officer now owns 977,192 shares of the company’s stock, valued at $3,742,645.36. This represents a 7.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. The trade was a 91.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 278,531 shares of company stock worth $1,242,915. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently bought and sold shares of the business. Swiss National Bank increased its holdings in shares of indie Semiconductor by 5.4% in the 1st quarter. Swiss National Bank now owns 270,800 shares of the company’s stock worth $1,917,000 after buying an additional 13,800 shares during the last quarter. Sei Investments Co. lifted its stake in shares of indie Semiconductor by 62.7% in the 1st quarter. Sei Investments Co. now owns 124,862 shares of the company’s stock valued at $884,000 after purchasing an additional 48,115 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of indie Semiconductor during the 1st quarter valued at approximately $1,471,000. ProShare Advisors LLC raised its holdings in indie Semiconductor by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock valued at $192,000 after buying an additional 2,131 shares during the period. Finally, Vanguard Group Inc. lifted its position in indie Semiconductor by 3.2% in the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after buying an additional 332,500 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

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.