Benchmark Issues Pessimistic Forecast for indie Semiconductor (NASDAQ:INDI) Stock Price

indie Semiconductor (NASDAQ:INDI) had its target price lowered by analysts at Benchmark from $12.00 to $9.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 157.88% from the company’s previous close.

INDI has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lowered their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Roth Mkm lowered their price objective on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $10.07.

indie Semiconductor Stock Up 4.8 %

Shares of INDI opened at $3.49 on Tuesday. The company’s 50-day simple moving average is $3.69 and its 200-day simple moving average is $5.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $8.69. The stock has a market capitalization of $689.00 million, a PE ratio of -6.84 and a beta of 1.22.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The company had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. During the same period in the prior year, the business earned ($0.11) EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Analysts forecast that indie Semiconductor will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the transaction, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after acquiring an additional 3,906 shares in the last quarter. Xponance Inc. purchased a new stake in shares of indie Semiconductor in the 2nd quarter valued at about $63,000. Creative Planning acquired a new stake in shares of indie Semiconductor in the 3rd quarter valued at about $75,000. Legato Capital Management LLC purchased a new position in indie Semiconductor during the 2nd quarter worth approximately $76,000. Finally, SlateStone Wealth LLC purchased a new position in indie Semiconductor during the 2nd quarter worth approximately $82,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.