indie Semiconductor, Inc. (NASDAQ:INDI) Receives $10.50 Average Target Price from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have earned a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $10.07.

INDI has been the topic of a number of recent research reports. Roth Mkm reduced their price objective on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Benchmark reduced their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday.

indie Semiconductor Price Performance

INDI opened at $3.33 on Friday. indie Semiconductor has a one year low of $3.16 and a one year high of $8.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20. The company’s 50 day simple moving average is $3.71 and its 200-day simple moving average is $5.18. The stock has a market capitalization of $657.41 million, a P/E ratio of -6.49 and a beta of 1.22.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $53.61 million. During the same period in the prior year, the firm earned ($0.11) earnings per share. indie Semiconductor’s revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that indie Semiconductor will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the transaction, the chief financial officer now owns 977,192 shares of the company’s stock, valued at $3,742,645.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of indie Semiconductor by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock worth $75,047,000 after buying an additional 332,500 shares during the period. Comerica Bank boosted its holdings in indie Semiconductor by 23,949.9% in the 1st quarter. Comerica Bank now owns 314,813 shares of the company’s stock valued at $2,229,000 after purchasing an additional 313,504 shares during the period. Artemis Investment Management LLP bought a new stake in indie Semiconductor in the 3rd quarter valued at about $4,478,000. Price T Rowe Associates Inc. MD raised its position in shares of indie Semiconductor by 14.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock valued at $306,000 after buying an additional 5,394 shares in the last quarter. Finally, Calamos Advisors LLC acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at approximately $478,000. Institutional investors own 67.73% of the company’s stock.

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.