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

indie Semiconductor, Inc. (NASDAQ:INDI) has been assigned an average recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $9.79.

INDI has been the subject of a number of research analyst reports. Benchmark decreased their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Roth Mkm reduced their price objective on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

indie Semiconductor Trading Up 0.6 %

NASDAQ:INDI opened at $5.03 on Thursday. The firm has a fifty day simple moving average of $3.95 and a two-hundred day simple moving average of $5.05. indie Semiconductor has a 12 month low of $3.16 and a 12 month high of $8.69. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -7.51 and a beta of 1.22. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Insider Activity

In other news, CFO Thomas Schiller sold 75,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. This represents a 7.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. The trade was a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 278,531 shares of company stock valued at $1,242,915 over the last three months. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of INDI. GAMMA Investing LLC raised its stake in shares of indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after buying an additional 3,906 shares during the period. Xponance Inc. purchased a new stake in indie Semiconductor during the second quarter valued at about $63,000. Legato Capital Management LLC bought a new position in indie Semiconductor during the second quarter worth about $76,000. SlateStone Wealth LLC purchased a new position in shares of indie Semiconductor in the second quarter worth about $82,000. Finally, Virtu Financial LLC bought a new stake in shares of indie Semiconductor in the third quarter valued at approximately $58,000. 67.73% of the stock is owned by institutional investors.

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.