Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) Target Price at $8.92

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $8.92.

Several brokerages have commented on INDI. Roth Mkm cut their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Benchmark dropped their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th.

Insider Activity

In related news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. The trade was a 73.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the transaction, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,593 shares of company stock valued at $1,272,291 in the last ninety days. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds have recently modified their holdings of the business. Primecap Management Co. CA lifted its position in indie Semiconductor by 61.4% during the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after purchasing an additional 9,689,326 shares in the last quarter. Bamco Inc. NY raised its stake in shares of indie Semiconductor by 0.6% in the third quarter. Bamco Inc. NY now owns 15,240,606 shares of the company’s stock worth $60,810,000 after buying an additional 89,181 shares during the period. State Street Corp lifted its position in shares of indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after buying an additional 161,132 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of indie Semiconductor by 482.7% during the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after acquiring an additional 5,417,296 shares during the period. Finally, Geode Capital Management LLC increased its holdings in indie Semiconductor by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after acquiring an additional 276,739 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Price Performance

INDI opened at $4.36 on Friday. The firm has a market cap of $880.35 million, a PE ratio of -6.51 and a beta of 1.41. The stock has a 50-day moving average price of $4.40 and a 200-day moving average price of $4.41. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $7.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.12). indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. The firm had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $53.65 million. During the same period last year, the firm posted ($0.17) earnings per share. Sell-side analysts predict that indie Semiconductor will post -0.74 earnings per share for the current fiscal year.

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.