indie Semiconductor (NASDAQ:INDI) Given New $9.00 Price Target at Benchmark

indie Semiconductor (NASDAQ:INDIGet Free Report) had its price objective cut by investment analysts at Benchmark from $12.00 to $9.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 181.25% from the company’s current price.

INDI has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Roth Mkm lowered their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $10.07.

View Our Latest Report on indie Semiconductor

indie Semiconductor Price Performance

Shares of INDI stock traded down $0.17 during trading on Tuesday, hitting $3.20. The company had a trading volume of 1,389,171 shares, compared to its average volume of 2,681,147. 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 has a market capitalization of $631.74 million, a P/E ratio of -6.25 and a beta of 1.22. The stock’s 50-day moving average price is $3.71 and its 200 day moving average price is $5.18. indie Semiconductor has a one year low of $3.16 and a one year high of $8.69.

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

Insider Transactions at indie Semiconductor

In other 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 owns 977,192 shares in the company, valued at $3,742,645.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in indie Semiconductor by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock valued at $75,047,000 after buying an additional 332,500 shares in the last quarter. Comerica Bank grew its stake 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 buying an additional 313,504 shares in the last quarter. Artemis Investment Management LLP bought a new position in indie Semiconductor in the 3rd quarter valued at $4,478,000. Price T Rowe Associates Inc. MD boosted its holdings in 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 purchasing an additional 5,394 shares during the period. Finally, Calamos Advisors LLC bought a new position in indie Semiconductor in the 2nd quarter valued at $478,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Company Profile

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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.

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