indie Semiconductor (NASDAQ:INDI) Price Target Lowered to $8.00 at Benchmark

indie Semiconductor (NASDAQ:INDI) had its price target reduced by Benchmark from $9.00 to $8.00 in a research note published on Friday,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other research analysts also recently commented on the company. Roth Mkm lowered their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. UBS Group initiated coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.86.

indie Semiconductor Trading Down 12.8 %

Shares of NASDAQ:INDI opened at $3.41 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average price is $4.16 and its 200-day moving average price is $4.09. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $7.82.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. Research analysts predict that indie Semiconductor will post -0.54 EPS for the current year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the sale, the chief executive officer now owns 18,351 shares in the company, valued at $79,092.81. This represents a 73.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction 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 sale, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at approximately $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,593 shares of company stock worth $330,291 in the last 90 days. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of INDI. National Bank of Canada FI grew its position in shares of indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock worth $54,000 after acquiring an additional 4,023 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of indie Semiconductor during the 4th quarter worth $55,000. Regal Investment Advisors LLC lifted its stake in indie Semiconductor by 39.2% in the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock valued at $57,000 after buying an additional 3,988 shares in the last quarter. Virtu Financial LLC purchased a new position in indie Semiconductor in the 3rd quarter valued at about $58,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock worth $60,000 after purchasing an additional 6,363 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.