indie Semiconductor, Inc. (NASDAQ:INDI) Receives $12.64 Average PT from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $12.64.

A number of analysts have weighed in on INDI shares. B. Riley restated a “buy” rating and set a $13.50 target price (down previously from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, KeyCorp decreased their price objective on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Friday, May 10th.

Insiders Place Their Bets

In other news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $6.74, for a total transaction of $337,000.00. Following the sale, the chief executive officer now directly owns 83,731 shares of the company’s stock, valued at approximately $564,346.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $6.74, for a total value of $337,000.00. Following the transaction, the chief executive officer now directly owns 83,731 shares of the company’s stock, valued at approximately $564,346.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total transaction of $75,800.00. Following the completion of the transaction, the director now directly owns 75,185 shares in the company, valued at $569,902.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 339,912 shares of company stock valued at $2,239,039. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 3,906 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of indie Semiconductor by 269.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock worth $50,000 after buying an additional 4,470 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in indie Semiconductor by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after purchasing an additional 2,000 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in indie Semiconductor in the 1st quarter valued at approximately $53,000. Finally, Psagot Value Holdings Ltd. Israel increased its holdings in indie Semiconductor by 24.2% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock valued at $69,000 after purchasing an additional 1,610 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Stock Down 9.5 %

Shares of NASDAQ INDI opened at $5.41 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.49 and a current ratio of 1.74. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -11.04 and a beta of 1.22. The stock has a 50 day moving average price of $6.59 and a 200 day moving average price of $6.49. indie Semiconductor has a 52-week low of $4.67 and a 52-week high of $9.19.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). The firm had revenue of $52.35 million during the quarter, compared to analysts’ expectations of $56.30 million. indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. Sell-side analysts expect that indie Semiconductor will post -0.62 earnings per share 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.