indie Semiconductor (NASDAQ:INDI) Price Target Lowered to $5.00 at Roth Mkm

indie Semiconductor (NASDAQ:INDI) had its target price decreased by research analysts at Roth Mkm from $7.00 to $5.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price indicates a potential upside of 1.42% from the company’s current price.

INDI has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reduced their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Benchmark cut their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.79.

indie Semiconductor Price Performance

INDI stock traded up $1.50 during mid-day trading on Friday, hitting $4.93. The stock had a trading volume of 25,276,109 shares, compared to its average volume of 2,796,924. The firm has a market capitalization of $973.28 million, a P/E ratio of -9.59 and a beta of 1.22. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $3.67 and a 200 day simple moving average of $5.14. indie Semiconductor has a 52 week low of $3.16 and a 52 week high of $8.69.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. During the same period in the prior year, the firm earned ($0.11) earnings per share. indie Semiconductor’s revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that indie Semiconductor will post -0.7 EPS for the current year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently added to or reduced their stakes in INDI. Commonwealth Equity Services LLC grew its holdings in indie Semiconductor by 63.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 80,638 shares of the company’s stock valued at $571,000 after buying an additional 31,200 shares in the last quarter. Swiss National Bank raised its position in indie Semiconductor by 5.4% in the 1st quarter. Swiss National Bank now owns 270,800 shares of the company’s stock valued at $1,917,000 after purchasing an additional 13,800 shares in the last quarter. Sei Investments Co. raised its holdings in indie Semiconductor by 62.7% in the first quarter. Sei Investments Co. now owns 124,862 shares of the company’s stock valued at $884,000 after acquiring an additional 48,115 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of indie Semiconductor during the 1st quarter worth $1,471,000. Finally, ProShare Advisors LLC lifted its holdings in indie Semiconductor by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock worth $192,000 after buying an additional 2,131 shares during the last quarter. 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.