Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) Price Target at $7.50

indie Semiconductor, Inc. (NASDAQ:INDI) has earned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $7.50.

A number of equities research analysts have recently commented on the company. UBS Group assumed coverage on indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. KeyCorp dropped their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Benchmark reduced their target price on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, February 21st.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the transaction, the chief executive officer now owns 18,351 shares in the company, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Wittmann sold 13,570 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the sale, the chief operating officer now directly owns 67,012 shares of the company’s stock, valued at $194,334.80. The trade was a 16.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,789 shares of company stock valued at $747,537 over the last ninety days. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds have recently modified their holdings of INDI. Creative Planning acquired a new position in indie Semiconductor in the 3rd quarter valued at about $75,000. Bouvel Investment Partners LLC lifted its holdings in indie Semiconductor by 33.2% in the third quarter. Bouvel Investment Partners LLC now owns 186,119 shares of the company’s stock valued at $743,000 after acquiring an additional 46,400 shares during the last quarter. Advisors Asset Management Inc. grew its position in indie Semiconductor by 115.4% in the third quarter. Advisors Asset Management Inc. now owns 60,392 shares of the company’s stock worth $241,000 after acquiring an additional 32,353 shares during the period. Intech Investment Management LLC acquired a new stake in indie Semiconductor during the third quarter worth $143,000. Finally, Primecap Management Co. CA raised its position 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 purchasing an additional 9,689,326 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Trading Down 0.4 %

Shares of NASDAQ:INDI opened at $2.57 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. indie Semiconductor has a 12-month low of $2.43 and a 12-month high of $7.82. The business has a 50 day moving average of $3.83 and a two-hundred day moving average of $3.97. The company has a market capitalization of $518.92 million, a PE ratio of -3.38 and a beta of 1.54.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that indie Semiconductor will post -0.54 EPS for the current year.

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.