indie Semiconductor (NASDAQ:INDI) Shares Gap Down – What’s Next?

indie Semiconductor, Inc. (NASDAQ:INDI) gapped down prior to trading on Tuesday . The stock had previously closed at $5.28, but opened at $4.11. indie Semiconductor shares last traded at $4.29, with a volume of 1,830,484 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on INDI shares. Benchmark dropped their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Roth Mkm dropped their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $8.92.

indie Semiconductor Stock Performance

The stock has a 50 day simple moving average of $4.03 and a 200 day simple moving average of $5.03. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market cap of $890.47 million, a price-to-earnings ratio of -6.40 and a beta of 1.36.

Insiders Place Their Bets

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $86,433.21. This represents a 91.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INDI. Primecap Management Co. CA increased its holdings in indie Semiconductor by 61.4% during the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after purchasing an additional 9,689,326 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after acquiring an additional 2,377,612 shares in the last quarter. Artemis Investment Management LLP bought a new position in indie Semiconductor during the 3rd quarter valued at $4,478,000. Harber Asset Management LLC acquired a new position in indie Semiconductor during the 3rd quarter worth $3,406,000. Finally, General American Investors Co. Inc. grew its holdings in indie Semiconductor by 46.5% during the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after acquiring an additional 427,928 shares in the last quarter. Institutional investors and hedge funds 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.