UBS Group Initiates Coverage on indie Semiconductor (NASDAQ:INDI)

UBS Group assumed coverage on shares of indie Semiconductor (NASDAQ:INDI) in a report issued on Friday morning, MarketBeat reports. The brokerage issued a neutral rating and a $4.50 target price on the stock.

Other research analysts have also recently issued reports about the stock. Benchmark lowered their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Roth Mkm dropped their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, indie Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $8.29.

indie Semiconductor Price Performance

Shares of INDI opened at $4.27 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The company’s fifty day simple moving average is $4.40 and its 200 day simple moving average is $4.40. indie Semiconductor has a 1-year low of $3.16 and a 1-year high of $7.82.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, November 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $53.97 million for the quarter, compared to analyst estimates of $53.65 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, analysts expect that indie Semiconductor will post -0.74 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the completion of the sale, the chief operating officer now owns 28,860 shares of the company’s stock, valued at approximately $118,326. This represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,593 shares of company stock worth $1,272,291. Company 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 made changes to their positions in INDI. Primecap Management Co. CA boosted its stake in indie Semiconductor by 61.4% in the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after acquiring an additional 9,689,326 shares during the last quarter. Bamco Inc. NY boosted its holdings in indie Semiconductor by 0.6% in the 3rd 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 raised its holdings in 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 acquiring an additional 161,132 shares during the period. Artemis Investment Management LLP raised 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 purchasing an additional 5,417,296 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in indie Semiconductor by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after purchasing an additional 276,739 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

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.