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

indie Semiconductor, Inc. (NASDAQ:INDI) has been given an average rating of “Buy” by the seven brokerages that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.50.

Several equities research analysts have recently commented on INDI shares. Deutsche Bank Aktiengesellschaft reduced their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and set a $12.00 price target on shares of indie Semiconductor in a research report on Tuesday, September 10th. Finally, Roth Mkm decreased their target price on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Insider Buying and Selling

In other news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 977,192 shares in the company, valued at approximately $3,742,645.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Ichiro Aoki sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $6.14, for a total transaction of $307,000.00. Following the sale, the president now directly owns 36,631 shares of the company’s stock, valued at $224,914.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,260 shares of company stock worth $618,514. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in indie Semiconductor by 1,743.8% in 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 period. Financial Management Professionals Inc. bought a new position in shares of indie Semiconductor in the first quarter worth about $53,000. Newbridge Financial Services Group Inc. grew its position in shares of indie Semiconductor by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after purchasing an additional 2,000 shares in the last quarter. Xponance Inc. bought a new stake in indie Semiconductor during the 2nd quarter valued at approximately $63,000. Finally, Quent Capital LLC lifted its holdings in indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after purchasing an additional 4,000 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Stock Down 5.5 %

Shares of NASDAQ INDI opened at $3.63 on Friday. indie Semiconductor has a one year low of $3.16 and a one year high of $8.69. The stock has a market capitalization of $677.95 million, a P/E ratio of -7.45 and a beta of 1.20. The firm’s 50 day simple moving average is $4.75 and its two-hundred day simple moving average is $5.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The firm had revenue of $52.40 million during the quarter, compared to analyst estimates of $53.61 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts expect that indie Semiconductor will post -0.7 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.