indie Semiconductor (NASDAQ:INDI) Trading Down 4.1%

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price was down 4.1% on Wednesday . The stock traded as low as $10.70 and last traded at $10.74. Approximately 19,463 shares were traded during trading, a decline of 98% from the average daily volume of 906,743 shares. The stock had previously closed at $11.20.

Several analysts have weighed in on INDI shares. Deutsche Bank Aktiengesellschaft started coverage on shares of indie Semiconductor in a research report on Friday, July 23rd. They set a “buy” rating and a $14.00 target price on the stock. Zacks Investment Research downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Friday, August 13th. B. Riley started coverage on shares of indie Semiconductor in a research report on Tuesday, August 24th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Craig Hallum started coverage on shares of indie Semiconductor in a research report on Monday, July 12th. They set a “buy” rating and a $18.00 target price on the stock.

The company’s fifty day simple moving average is $9.47. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -69.87 and a beta of 0.18.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Tuesday, August 10th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.23). The firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $8.97 million. On average, equities analysts anticipate that indie Semiconductor, Inc. will post -0.46 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $433,000. Blackstone Inc acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $4,002,000. Wells Fargo & Company MN acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $148,000. Luxor Capital Group LP acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $9,775,000. Finally, Millennium Management LLC acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $7,131,000. Hedge funds and other institutional investors own 13.82% of the company’s stock.

indie Semiconductor Company Profile (NASDAQ:INDI)

indie Semiconductor, a fabless semiconductor company, designs and manufactures custom mixed-signal microcontrollers for automotive, medical, industrial, and consumer applications. The company offers custom solutions, standard products, and building blocks. It also integrates analog sub-systems, such as RF transceivers, power management circuitry, and sensor interfaces.

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