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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $10.50.

INDI has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of indie Semiconductor in a research note on Tuesday. Finally, Roth Mkm dropped their price objective on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Thomas Schiller sold 75,000 shares of the business’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 transaction of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares in the company, valued at $3,742,645.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the president now owns 36,631 shares of the company’s stock, valued at approximately $224,914.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 281,882 shares of company stock valued at $1,585,570. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of INDI. Newbridge Financial Services Group Inc. grew its position in indie Semiconductor by 40.8% during the fourth 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 in the last quarter. ProShare Advisors LLC increased its stake in shares of indie Semiconductor by 8.5% in the first quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock worth $192,000 after acquiring an additional 2,131 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of indie Semiconductor by 15.3% during the first quarter. Principal Financial Group Inc. now owns 20,162 shares of the company’s stock worth $143,000 after acquiring an additional 2,674 shares in the last quarter. GAMMA Investing LLC boosted its position in indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares during the last quarter. Finally, Quent Capital LLC grew its stake in indie Semiconductor by 66.7% in the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Stock Performance

INDI opened at $3.91 on Friday. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $8.69. The stock has a market cap of $771.91 million, a PE ratio of -7.98 and a beta of 1.20. The business’s 50 day moving average is $4.96 and its 200-day moving average is $5.90. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $52.40 million during the quarter, compared to analyst estimates of $53.61 million. indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) EPS. On average, analysts predict that indie Semiconductor will post -0.7 earnings per share for the current year.

About indie Semiconductor

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.