TheStreet lowered shares of indie Semiconductor (NASDAQ:INDI – Get Rating) from a c- rating to a d rating in a research note issued to investors on Monday, TheStreetRatingsTable reports.
Separately, Craig Hallum decreased their target price on indie Semiconductor to $14.00 in a report on Wednesday, November 16th.
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indie Semiconductor Stock Performance
NASDAQ:INDI opened at $6.36 on Monday. The firm has a market cap of $928.29 million, a PE ratio of -11.87 and a beta of 0.70. indie Semiconductor has a fifty-two week low of $5.07 and a fifty-two week high of $12.26. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.30 and a current ratio of 3.51. The business has a 50 day moving average price of $7.52 and a 200-day moving average price of $7.35.
Insiders Place Their Bets
In other news, CTO Scott David Kee sold 200,000 shares of the firm's stock in a transaction on Friday, November 11th. The stock was sold at an average price of $8.82, for a total transaction of $1,764,000.00. Following the completion of the transaction, the chief technology officer now directly owns 669 shares in the company, valued at $5,900.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through
this hyperlink. In related news, CFO Thomas Schiller sold 15,835 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $8.03, for a total transaction of $127,155.05. Following the sale, the chief financial officer now directly owns 1,462,944 shares of the company's stock, valued at $11,747,440.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at
this link. Also, CTO Scott David Kee sold 200,000 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $8.82, for a total value of $1,764,000.00. Following the sale, the chief technology officer now directly owns 669 shares in the company, valued at $5,900.58. The disclosure for this sale can be found
here. Over the last 90 days, insiders sold 395,835 shares of company stock worth $3,233,855. 14.30% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On indie Semiconductor
Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of indie Semiconductor by 17.8% during the third quarter. Bank of New York Mellon Corp now owns 329,712 shares of the company's stock valued at $2,413,000 after buying an additional 49,818 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new stake in shares of indie Semiconductor during the third quarter valued at $1,394,000. BNP Paribas Arbitrage SNC purchased a new stake in shares of indie Semiconductor during the third quarter valued at $303,000. Alliancebernstein L.P. boosted its position in shares of indie Semiconductor by 142.7% during the third quarter. Alliancebernstein L.P. now owns 69,900 shares of the company's stock valued at $512,000 after buying an additional 41,100 shares during the last quarter. Finally, State Street Corp boosted its position in shares of indie Semiconductor by 2.4% during the third quarter. State Street Corp now owns 3,950,849 shares of the company's stock valued at $28,920,000 after buying an additional 93,999 shares during the last quarter. 45.44% of the stock is owned by hedge funds and other institutional investors.
indie Semiconductor Company Profile
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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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