indie Semiconductor, Inc. (NASDAQ:INDI) Receives $7.50 Consensus Target Price from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.50.

INDI has been the topic of a number of recent research reports. UBS Group assumed coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 price target on the stock. Benchmark cut their target price on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, KeyCorp reduced their target price on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 10,875 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $2.81, for a total value of $30,558.75. Following the sale, the chief operating officer now directly owns 77,887 shares in the company, valued at $218,862.47. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the sale, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,789 shares of company stock worth $747,537 over the last 90 days. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Trust boosted its holdings in indie Semiconductor by 20.3% in the fourth quarter. American Trust now owns 34,845 shares of the company’s stock valued at $141,000 after purchasing an additional 5,869 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of indie Semiconductor by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company’s stock worth $1,069,000 after buying an additional 32,979 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of indie Semiconductor in the 4th quarter valued at $386,000. ProShare Advisors LLC grew its position in shares of indie Semiconductor by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock valued at $187,000 after buying an additional 15,202 shares during the last quarter. Finally, Meros Investment Management LP raised its stake in indie Semiconductor by 43.4% during the 4th quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock worth $5,026,000 after acquiring an additional 375,624 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $2.57 on Friday. The stock has a market capitalization of $518.92 million, a P/E ratio of -3.38 and a beta of 1.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. indie Semiconductor has a fifty-two week low of $2.43 and a fifty-two week high of $7.82. The company has a 50 day moving average price of $3.83 and a 200 day moving average price of $3.97.

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