indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Recommendation of “Buy” from Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have covered the stock in the last year is $12.64.

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

Insider Activity at indie Semiconductor

In other indie Semiconductor news, 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 transaction, the director now owns 75,185 shares of the company’s stock, valued at approximately $569,902.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Sonalee Elizabeth Parekh sold 10,000 shares of indie Semiconductor stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total value of $75,800.00. Following the transaction, the director now owns 75,185 shares of the company’s stock, valued at approximately $569,902.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $6.74, for a total transaction of $337,000.00. Following the completion of the transaction, the chief executive officer now directly owns 83,731 shares in the company, valued at approximately $564,346.94. The disclosure for this sale can be found here. Insiders have sold a total of 400,015 shares of company stock worth $2,578,749 in the last ninety days. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INDI. Bamco Inc. NY boosted its holdings in shares of indie Semiconductor by 28.0% during the first quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock worth $101,144,000 after purchasing an additional 3,121,255 shares during the period. Granahan Investment Management LLC lifted its stake in indie Semiconductor by 63.3% in the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after acquiring an additional 5,115,393 shares during the last quarter. Vanguard Group Inc. lifted its stake in indie Semiconductor by 3.2% in the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock valued at $75,047,000 after acquiring an additional 332,500 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of indie Semiconductor by 20.7% in the fourth quarter. Primecap Management Co. CA now owns 5,060,480 shares of the company’s stock worth $41,040,000 after buying an additional 867,180 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of indie Semiconductor by 40.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock worth $25,453,000 after buying an additional 902,530 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Stock Performance

Shares of INDI opened at $6.17 on Monday. 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 company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -12.59 and a beta of 1.24. The company’s 50 day simple moving average is $6.37 and its 200 day simple moving average is $6.73. indie Semiconductor has a 1 year low of $4.67 and a 1 year high of $9.85.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). The firm had revenue of $52.35 million for 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%. On average, sell-side analysts predict that indie Semiconductor will post -0.62 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.