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

indie Semiconductor, Inc. (NASDAQ:INDI) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $7.50.

Several analysts recently commented on the stock. Benchmark dropped their price target on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. KeyCorp dropped their target price on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, UBS Group began coverage on indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price target for the company.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $2.34 on Friday. indie Semiconductor has a 52-week low of $2.29 and a 52-week high of $7.82. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The stock has a market cap of $472.48 million, a PE ratio of -3.08 and a beta of 1.54. The business has a 50-day simple moving average of $3.75 and a 200-day simple moving average of $3.94.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The company had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. On average, equities analysts expect that indie Semiconductor will post -0.54 EPS for the current year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the transaction, the chief executive officer now owns 246,535 shares in the company, valued at approximately $714,951.50. This trade represents a 21.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Wittmann sold 10,875 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $2.81, for a total transaction of $30,558.75. Following the sale, the chief operating officer now directly owns 77,887 shares of the company’s stock, valued at $218,862.47. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,789 shares of company stock valued at $747,537 over the last 90 days. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Trust increased its holdings in shares of indie Semiconductor by 20.3% in the fourth quarter. American Trust now owns 34,845 shares of the company’s stock valued at $141,000 after purchasing an additional 5,869 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in indie Semiconductor by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company’s stock valued at $1,069,000 after buying an additional 32,979 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of indie Semiconductor in the 4th quarter worth $386,000. ProShare Advisors LLC raised its holdings in shares of indie Semiconductor by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock worth $187,000 after acquiring an additional 15,202 shares during the period. Finally, Meros Investment Management LP boosted its position in shares of indie Semiconductor by 43.4% during the 4th quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock valued at $5,026,000 after acquiring an additional 375,624 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.