Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) Price Target at $8.92

indie Semiconductor, Inc. (NASDAQ:INDI) has received an average recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.92.

Several research analysts have recently commented on the company. Benchmark decreased their price objective on 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 decreased their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

Insiders Place Their Bets

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction dated Monday, December 23rd. The shares were 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 in the company, valued at $118,326. The trade was a 38.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,593 shares of company stock worth $1,272,291. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. American Trust raised its holdings in indie Semiconductor by 28.2% in the third quarter. American Trust now owns 28,976 shares of the company’s stock worth $116,000 after purchasing an additional 6,375 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of indie Semiconductor by 11.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 62,769 shares of the company’s stock worth $387,000 after acquiring an additional 6,608 shares in the last quarter. Truvestments Capital LLC lifted its position in indie Semiconductor by 15.6% during the 3rd quarter. Truvestments Capital LLC now owns 56,456 shares of the company’s stock valued at $225,000 after acquiring an additional 7,601 shares during the period. Xponance Inc. bought a new stake in indie Semiconductor during the second quarter worth about $63,000. Finally, Meros Investment Management LP grew its holdings in indie Semiconductor by 1.6% in the second quarter. Meros Investment Management LP now owns 821,229 shares of the company’s stock worth $5,067,000 after purchasing an additional 12,836 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Stock Up 2.3 %

Shares of INDI opened at $4.36 on Friday. The firm has a market cap of $880.35 million, a P/E ratio of -6.51 and a beta of 1.41. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $7.82. The stock has a 50 day simple moving average of $4.40 and a two-hundred day simple moving average of $4.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, November 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $53.97 million for the quarter, compared to the consensus estimate of $53.65 million. indie Semiconductor had a negative net margin of 49.88% and a negative return on equity of 24.04%. During the same period in the prior year, the business posted ($0.17) EPS. On average, analysts forecast that indie Semiconductor will post -0.74 earnings per share for the current fiscal 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.