indie Semiconductor (NASDAQ:INDI) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of indie Semiconductor (NASDAQ:INDI) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

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

indie Semiconductor Trading Down 4.2%

NASDAQ:INDI opened at $4.29 on Friday. The firm has a market capitalization of $942.22 million, a P/E ratio of -5.72 and a beta of 2.59. The business has a 50 day simple moving average of $4.53 and a 200 day simple moving average of $4.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.75 and a quick ratio of 3.18. indie Semiconductor has a 12-month low of $1.53 and a 12-month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $53.68 million during the quarter, compared to the consensus estimate of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. Equities research analysts predict that indie Semiconductor will post -0.54 EPS for the current year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $6.01, for a total transaction of $1,202,000.00. Following the completion of the transaction, the chief executive officer directly owned 135,602 shares of the company’s stock, valued at approximately $814,968.02. This trade represents a 59.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 37,500 shares of indie Semiconductor stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $3.74, for a total value of $140,250.00. Following the transaction, the chief operating officer owned 94,005 shares in the company, valued at approximately $351,578.70. This trade represents a 28.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 909,474 shares of company stock valued at $3,965,086. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Elemental Capital Partners LLC bought a new stake in indie Semiconductor in the third quarter worth about $30,979,000. Tudor Investment Corp ET AL acquired a new position in shares of indie Semiconductor in the 3rd quarter worth approximately $22,385,000. Bamco Inc. NY grew its stake in shares of indie Semiconductor by 23.5% in the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after purchasing an additional 4,813,397 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of indie Semiconductor by 29.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock worth $63,940,000 after purchasing an additional 4,139,349 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after purchasing an additional 3,037,435 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

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.