indie Semiconductor (NASDAQ:INDI) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of indie Semiconductor (NASDAQ:INDI – Free Report) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other equities research analysts also recently commented on INDI. UBS Group lifted their price target on shares of indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Wednesday, October 8th. Finally, Roth Capital restated a “buy” rating and set a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.60.

Read Our Latest Analysis on indie Semiconductor

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $4.11 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. The business’s fifty day moving average price is $4.52 and its two-hundred day moving average price is $4.12. The stock has a market cap of $902.68 million, a PE ratio of -5.48 and a beta of 2.60. indie Semiconductor has a one year low of $1.53 and a one year high of $6.05.

indie Semiconductor (NASDAQ:INDI – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $53.68 million during the quarter, compared to analysts’ expectations of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. On average, analysts forecast that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Ichiro Aoki sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $3.92, for a total transaction of $980,000.00. Following the transaction, the president directly owned 82,634 shares of the company’s stock, valued at approximately $323,925.28. The trade was a 75.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Michael Wittmann sold 37,500 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $3.74, for a total transaction of $140,250.00. Following the completion of the sale, the chief operating officer directly owned 94,005 shares of the company’s stock, valued at $351,578.70. This trade represents a 28.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 898,174 shares of company stock worth $3,919,886. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in indie Semiconductor by 9.0% during the 2nd quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock worth $142,000 after buying an additional 3,300 shares during the period. Los Angeles Capital Management LLC boosted its position in indie Semiconductor by 9.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock valued at $162,000 after buying an additional 3,898 shares during the last quarter. CWM LLC grew its stake in shares of indie Semiconductor by 34.7% during the second quarter. CWM LLC now owns 15,215 shares of the company’s stock valued at $54,000 after acquiring an additional 3,916 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of indie Semiconductor by 32.1% during the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after acquiring an additional 3,921 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of indie Semiconductor by 27.0% in the second quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock worth $71,000 after acquiring an additional 4,207 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Company Profile

(Get Free Report)

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.

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