Roth Mkm Cuts indie Semiconductor (NASDAQ:INDI) Price Target to $7.00

indie Semiconductor (NASDAQ:INDI) had its price objective reduced by stock analysts at Roth Mkm from $10.00 to $7.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 59.82% from the company’s current price.

A number of other brokerages have also recently weighed in on INDI. KeyCorp dropped their target price on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. B. Riley reissued a “buy” rating and issued a $13.50 target price (down previously from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor currently has a consensus rating of “Buy” and an average target price of $11.50.

indie Semiconductor Stock Down 9.3 %

Shares of NASDAQ INDI traded down $0.45 during trading on Friday, reaching $4.38. 1,151,855 shares of the stock were exchanged, compared to its average volume of 2,697,824. The company has a market capitalization of $818.01 million, a price-to-earnings ratio of -8.94 and a beta of 1.22. The business’s 50-day moving average price is $6.42 and its 200 day moving average price is $6.42. The company has a quick ratio of 1.49, a current ratio of 1.74 and a debt-to-equity ratio of 0.34. indie Semiconductor has a twelve month low of $4.32 and a twelve month high of $8.69.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The business had revenue of $52.35 million during the quarter, compared to analysts’ expectations of $56.30 million. As a group, equities analysts forecast that indie Semiconductor will post -0.62 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $6.74, for a total transaction of $337,000.00. Following the sale, the chief executive officer now owns 83,731 shares in the company, valued at $564,346.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total value of $75,800.00. Following the transaction, the director now owns 75,185 shares in the company, valued at $569,902.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $6.74, for a total transaction of $337,000.00. Following the completion of the sale, the chief executive officer now directly owns 83,731 shares of the company’s stock, valued at $564,346.94. The disclosure for this sale can be found here. Insiders have sold 339,912 shares of company stock valued at $2,239,039 over the last three months. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors have recently bought and sold shares of INDI. GAMMA Investing LLC boosted its holdings in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after buying an additional 3,906 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of indie Semiconductor by 269.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock worth $50,000 after buying an additional 4,470 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of indie Semiconductor in the first quarter worth $53,000. Newbridge Financial Services Group Inc. increased 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 worth $56,000 after acquiring an additional 2,000 shares during the period. Finally, Psagot Value Holdings Ltd. Israel raised its stake in indie Semiconductor by 24.2% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock valued at $69,000 after purchasing an additional 1,610 shares during the last quarter. 67.73% of the stock is currently owned by 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.