indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Recommendation of “Buy” by Brokerages

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have earned a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $13.50.

INDI has been the topic of several recent research reports. CJS Securities started coverage on shares of indie Semiconductor in a report on Friday, December 1st. They set an “outperform” rating and a $15.00 target price on the stock. KeyCorp reduced their price target on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, Craig Hallum dropped their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the transaction, the chief executive officer now directly owns 76,750 shares in the company, valued at approximately $479,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Thomas Schiller sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $7.05, for a total value of $423,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,093,562 shares in the company, valued at approximately $7,709,612.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now owns 76,750 shares in the company, valued at $479,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,491 shares of company stock worth $1,153,936. Insiders own 9.90% of the company’s stock.

Institutional Trading of indie Semiconductor

Institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY grew its position in shares of indie Semiconductor by 88.9% during the 3rd quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock valued at $69,545,000 after buying an additional 5,193,775 shares during the last quarter. Granahan Investment Management LLC grew its holdings in shares of indie Semiconductor by 63.3% during the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after purchasing an additional 5,115,393 shares during the last quarter. State Street Corp grew its holdings in shares of indie Semiconductor by 64.2% during the second quarter. State Street Corp now owns 6,943,221 shares of the company’s stock valued at $65,266,000 after purchasing an additional 2,715,874 shares during the last quarter. BlackRock Inc. raised its position in shares of indie Semiconductor by 36.7% during the 2nd quarter. BlackRock Inc. now owns 8,849,734 shares of the company’s stock worth $83,187,000 after purchasing an additional 2,377,645 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of indie Semiconductor by 1,018.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,921,108 shares of the company’s stock worth $15,580,000 after purchasing an additional 1,749,397 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $6.77 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96. indie Semiconductor has a one year low of $4.67 and a one year high of $10.85. The business’s fifty day moving average price is $6.69 and its two-hundred day moving average price is $6.65. The stock has a market cap of $1.24 billion, a PE ratio of -7.96 and a beta of 1.14.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. The firm had revenue of $70.13 million during the quarter, compared to the consensus estimate of $72.69 million. On average, analysts forecast that indie Semiconductor will post -0.36 EPS for the current fiscal 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.