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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have earned an average rating of “Buy” from the seven ratings firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $13.50.

INDI has been the topic of a number of research analyst reports. Craig Hallum lowered their price target on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. KeyCorp reduced their price target on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 8,700 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.95, for a total value of $60,465.00. Following the completion of the sale, the chief operating officer now owns 35,460 shares of the company’s stock, valued at $246,447. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Michael Wittmann sold 8,700 shares of indie Semiconductor stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the transaction, the chief operating officer now owns 35,460 shares of the company’s stock, valued at $246,447. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Ichiro Aoki sold 50,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the sale, the president now owns 31,208 shares of the company’s stock, valued at $211,278.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,323 shares of company stock worth $740,444. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently made changes to their positions in the business. Bamco Inc. NY increased its position in indie Semiconductor by 88.9% in the 3rd quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock worth $69,545,000 after buying an additional 5,193,775 shares during the period. Granahan Investment Management LLC grew its position in indie Semiconductor by 63.3% in the 4th quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock worth $107,008,000 after purchasing an additional 5,115,393 shares during the last quarter. Intrinsic Edge Capital Management LLC increased its holdings in shares of indie Semiconductor by 132.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock worth $23,466,000 after purchasing an additional 1,648,818 shares during the period. UBS Group AG raised its position in shares of indie Semiconductor by 4,346.7% during the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock valued at $12,041,000 after buying an additional 1,451,308 shares during the last quarter. Finally, Primecap Management Co. CA lifted its stake in shares of indie Semiconductor by 39.0% in the third quarter. Primecap Management Co. CA now owns 4,193,300 shares of the company’s stock valued at $26,418,000 after buying an additional 1,175,600 shares during the period. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Stock Up 2.0 %

NASDAQ:INDI opened at $5.21 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.72 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $6.52 and a 200-day moving average of $6.66. The firm has a market capitalization of $954.58 million, a PE ratio of -6.13 and a beta of 1.15. indie Semiconductor has a 52 week low of $4.67 and a 52 week high of $10.85.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $70.13 million for the quarter, compared to analysts’ expectations of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. Analysts predict that indie Semiconductor will post -0.42 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.