Benchmark Cuts indie Semiconductor (NASDAQ:INDI) Price Target to $9.00

indie Semiconductor (NASDAQ:INDI) had its price objective decreased by Benchmark from $12.00 to $9.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 157.88% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Roth Mkm cut their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $10.07.

indie Semiconductor Stock Performance

NASDAQ INDI opened at $3.49 on Tuesday. The firm has a market cap of $689.00 million, a P/E ratio of -6.84 and a beta of 1.22. indie Semiconductor has a 52-week low of $3.16 and a 52-week high of $8.69. The business’s 50-day moving average price is $3.69 and its 200 day moving average price is $5.16. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The company had revenue of $52.40 million for the quarter, compared to the consensus estimate of $53.61 million. During the same period last year, the business posted ($0.11) EPS. The company’s revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that indie Semiconductor will post -0.7 earnings per share for the current year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, the chief financial officer now directly owns 977,192 shares in the company, valued at approximately $3,742,645.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors have recently modified their holdings of INDI. Bouvel Investment Partners LLC raised its holdings in indie Semiconductor by 33.2% during the third quarter. Bouvel Investment Partners LLC now owns 186,119 shares of the company’s stock worth $743,000 after purchasing an additional 46,400 shares during the last quarter. General American Investors Co. Inc. raised its stake in shares of 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 buying an additional 427,928 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of indie Semiconductor by 290.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after buying an additional 2,377,612 shares in the last quarter. Tempus Wealth Planning LLC grew its stake in indie Semiconductor by 61.6% in the 3rd quarter. Tempus Wealth Planning LLC now owns 36,121 shares of the company’s stock valued at $144,000 after acquiring an additional 13,768 shares during the last quarter. Finally, Creative Planning purchased a new position in indie Semiconductor during the 3rd quarter valued at about $75,000. Hedge funds and other institutional investors 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.