indie Semiconductor (NASDAQ:INDI) Price Target Lowered to $7.00 at KeyCorp

indie Semiconductor (NASDAQ:INDI) had its price target decreased by KeyCorp from $8.00 to $7.00 in a research note released on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

INDI has been the topic of a number of other research reports. UBS Group started coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They issued a “neutral” rating and a $4.50 price target on the stock. Benchmark dropped their target price 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. Finally, Roth Mkm dropped their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.86.

indie Semiconductor Trading Down 12.8 %

INDI stock opened at $3.41 on Friday. indie Semiconductor has a one year low of $3.16 and a one year high of $7.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The firm’s fifty day moving average is $4.16 and its 200 day moving average is $4.09.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 20th. The company reported ($0.15) 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 business had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. On average, sell-side analysts forecast that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. The trade was a 73.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares in the company, valued at approximately $118,326. This represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,593 shares of company stock valued at $330,291 in the last 90 days. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INDI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of indie Semiconductor by 14.3% during 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 acquiring an additional 32,979 shares during the last quarter. Two Sigma Investments LP acquired a new position in indie Semiconductor in the 4th quarter valued at about $386,000. ProShare Advisors LLC boosted its holdings in indie Semiconductor by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock valued at $187,000 after purchasing an additional 15,202 shares during the last quarter. Meros Investment Management LP boosted its holdings in indie Semiconductor by 43.4% in the 4th quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock valued at $5,026,000 after purchasing an additional 375,624 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in indie Semiconductor by 13.0% in the 4th quarter. Millennium Management LLC now owns 665,236 shares of the company’s stock valued at $2,694,000 after purchasing an additional 76,727 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.