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

indie Semiconductor, Inc. (NASDAQ:INDI) has been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.50.

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

indie Semiconductor Trading Up 2.7 %

INDI opened at $3.77 on Wednesday. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $8.69. The firm has a market cap of $704.10 million, a PE ratio of -7.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. The firm’s fifty day moving average is $3.96 and its two-hundred day moving average is $5.53.

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

Insider Activity at indie Semiconductor

In other indie Semiconductor 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 transaction of $287,250.00. Following the completion of the sale, the chief financial officer now directly owns 977,192 shares in the company, valued at $3,742,645.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake 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 purchasing an additional 3,906 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of indie Semiconductor in the first quarter valued at approximately $53,000. Newbridge Financial Services Group Inc. boosted its stake in shares of indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after buying an additional 2,000 shares during the period. Xponance Inc. acquired a new stake in indie Semiconductor during the second quarter worth approximately $63,000. Finally, Quent Capital LLC increased its stake in indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after acquiring an additional 4,000 shares during the period. Institutional investors and hedge funds 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.