indie Semiconductor (NASDAQ:INDI) Price Target Cut to $7.00 by Analysts at Roth Mkm

indie Semiconductor (NASDAQ:INDI) had its price target decreased by Roth Mkm from $10.00 to $7.00 in a report published on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

INDI has been the topic of a number of other reports. KeyCorp dropped their price objective on shares of indie Semiconductor from $10.00 to $9.00 and set an overweight rating on the stock in a research report on Friday, May 10th. B. Riley reissued a buy rating and issued a $13.50 target price (down previously from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on indie Semiconductor from $10.00 to $9.00 and set a buy rating for the company in a report on Friday, May 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $11.21.

indie Semiconductor Stock Down 8.5 %

Shares of NASDAQ INDI traded down $0.41 during mid-day trading on Friday, hitting $4.42. The company had a trading volume of 5,275,507 shares, compared to its average volume of 2,724,709. indie Semiconductor has a 1-year low of $4.24 and a 1-year high of $8.69. The company has a market capitalization of $825.49 million, a PE ratio of -9.02 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.74 and a quick ratio of 1.49. The business’s 50-day simple moving average is $6.38 and its 200 day simple moving average is $6.40.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The company had revenue of $52.35 million during the quarter, compared to analysts’ expectations of $56.30 million. On average, analysts predict that indie Semiconductor will post -0.62 earnings per share for the current year.

Insider Activity at indie Semiconductor

In other news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $6.74, for a total transaction of $337,000.00. Following the sale, the chief executive officer now owns 83,731 shares in the company, valued at $564,346.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $6.74, for a total value of $337,000.00. Following the completion of the sale, the chief executive officer now directly owns 83,731 shares of the company’s stock, valued at $564,346.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ichiro Aoki sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $7.09, for a total transaction of $531,750.00. Following the transaction, the president now owns 36,631 shares in the company, valued at $259,713.79. The disclosure for this sale can be found here. Insiders sold a total of 339,912 shares of company stock valued at $2,239,039 over the last ninety days. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the business. Mutual of America Capital Management LLC increased its position in indie Semiconductor by 14.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 486,252 shares of the company’s stock valued at $3,000,000 after acquiring an additional 62,770 shares during the period. Primecap Management Co. CA grew its stake in shares of indie Semiconductor by 93.5% in the 2nd quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company’s stock valued at $97,357,000 after purchasing an additional 7,624,797 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of indie Semiconductor by 61.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,127,024 shares of the company’s stock valued at $6,954,000 after purchasing an additional 427,372 shares during the period. NINE MASTS CAPITAL Ltd purchased a new stake in shares of indie Semiconductor during the second quarter worth approximately $931,000. Finally, General American Investors Co. Inc. lifted its holdings in shares of indie Semiconductor by 32.3% during the second quarter. General American Investors Co. Inc. now owns 919,465 shares of the company’s stock worth $5,673,000 after purchasing an additional 224,570 shares during the period. 67.73% of the stock is owned by hedge funds and other 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.