Wall Street Zen Downgrades indie Semiconductor (NASDAQ:INDI) to Sell

indie Semiconductor (NASDAQ:INDI) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

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

indie Semiconductor Trading Down 4.2%

Shares of INDI opened at $4.29 on Friday. indie Semiconductor has a 12 month low of $1.53 and a 12 month high of $6.05. The stock’s 50-day moving average is $4.53 and its two-hundred day moving average is $4.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.75 and a quick ratio of 3.18. The stock has a market cap of $942.21 million, a PE ratio of -5.72 and a beta of 2.60.

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 analyst estimates of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. indie Semiconductor’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. Equities analysts forecast that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 250,000 shares of the stock in a transaction on Thursday, November 13th. The shares were 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 in the company, valued at $323,925.28. This represents a 75.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Naixi Wu sold 10,386 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $4.44, for a total transaction of $46,113.84. Following the transaction, the chief financial officer directly owned 67,542 shares of the company’s stock, valued at approximately $299,886.48. This represents a 13.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 898,174 shares of company stock valued at $3,919,886. 5.60% of the stock is owned by insiders.

Institutional Trading of indie Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of indie Semiconductor by 356.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock valued at $34,000 after acquiring an additional 7,536 shares in the last quarter. National Bank of Canada FI increased its stake in indie Semiconductor by 32.7% during the first quarter. National Bank of Canada FI now owns 17,852 shares of the company’s stock valued at $36,000 after purchasing an additional 4,400 shares during the last quarter. Ethic Inc. bought a new stake in indie Semiconductor during the second quarter valued at $36,000. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor during the second quarter worth $37,000. Finally, Hsbc Holdings PLC lifted its position in shares of indie Semiconductor by 36.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,486 shares of the company’s stock worth $39,000 after buying an additional 5,213 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

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.