indie Semiconductor (NASDAQ:INDI) Shares Gap Down to $6.44

indie Semiconductor, Inc. (NASDAQ:INDIGet Rating)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $6.44, but opened at $6.30. indie Semiconductor shares last traded at $6.26, with a volume of 5,289 shares changing hands.

INDI has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of indie Semiconductor from $13.00 to $11.00 in a research report on Friday, May 13th. B. Riley downgraded shares of indie Semiconductor from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $9.00 to $8.00 in a research report on Wednesday. Finally, Benchmark initiated coverage on shares of indie Semiconductor in a research report on Friday, May 13th. They set a “buy” rating and a $17.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.40.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.79 and a current ratio of 3.98. The business’s 50 day simple moving average is $6.98 and its 200-day simple moving average is $8.51. The stock has a market capitalization of $939.75 million, a price-to-earnings ratio of -6.71 and a beta of 0.34.

indie Semiconductor (NASDAQ:INDIGet Rating) last posted its earnings results on Friday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The firm had revenue of $22.00 million during the quarter, compared to analyst estimates of $21.57 million. indie Semiconductor had a negative net margin of 140.59% and a negative return on equity of 26.48%. indie Semiconductor’s revenue was up 171.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) EPS. As a group, sell-side analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

In other indie Semiconductor news, COO Steven Machuga sold 17,562 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $6.81, for a total transaction of $119,597.22. Following the completion of the transaction, the chief operating officer now directly owns 155,938 shares of the company’s stock, valued at approximately $1,061,937.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.23% of the company’s stock.

Several large investors have recently modified their holdings of the company. State Street Corp lifted its stake in shares of indie Semiconductor by 43.8% in the 1st quarter. State Street Corp now owns 5,111,719 shares of the company’s stock worth $39,923,000 after acquiring an additional 1,556,028 shares during the period. Soros Fund Management LLC lifted its stake in shares of indie Semiconductor by 24.5% in the 1st quarter. Soros Fund Management LLC now owns 4,355,753 shares of the company’s stock worth $34,018,000 after acquiring an additional 855,753 shares during the period. Vanguard Group Inc. lifted its stake in shares of indie Semiconductor by 62.9% in the 1st quarter. Vanguard Group Inc. now owns 3,206,920 shares of the company’s stock worth $25,046,000 after acquiring an additional 1,238,514 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of indie Semiconductor in the 1st quarter worth approximately $11,378,000. Finally, Neuberger Berman Group LLC lifted its stake in shares of indie Semiconductor by 457.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,394,000 shares of the company’s stock worth $10,888,000 after acquiring an additional 1,144,000 shares during the period. 25.04% of the stock is owned by institutional investors.

indie Semiconductor Company Profile (NASDAQ:INDI)

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.

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