indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.50.

Several research analysts have weighed in on INDI shares. UBS Group started coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 target price for the company. KeyCorp lowered their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Benchmark cut their target price on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, February 21st.

indie Semiconductor Trading Down 2.1 %

INDI opened at $2.34 on Friday. The stock has a market capitalization of $472.48 million, a PE ratio of -3.08 and a beta of 1.54. indie Semiconductor has a one year low of $2.29 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 business’s 50 day moving average price is $3.75 and its 200 day moving average price is $3.94.

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

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 13,570 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $39,353.00. Following the sale, the chief operating officer now directly owns 67,012 shares of the company’s stock, valued at approximately $194,334.80. This represents a 16.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the sale, the chief executive officer now owns 18,351 shares in the company, valued at $79,092.81. The trade was a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,789 shares of company stock valued at $747,537 in the last ninety days. Company insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of INDI. Primecap Management Co. CA raised its position in shares of indie Semiconductor by 3.2% during the 4th quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company’s stock worth $106,465,000 after acquiring an additional 819,321 shares in the last quarter. Bamco Inc. NY increased its stake in indie Semiconductor by 30.6% in the fourth quarter. Bamco Inc. NY now owns 19,901,826 shares of the company’s stock valued at $80,602,000 after purchasing an additional 4,661,220 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in indie Semiconductor by 60.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company’s stock worth $70,366,000 after purchasing an additional 6,517,978 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of indie Semiconductor by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company’s stock worth $50,970,000 after buying an additional 942,088 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of indie Semiconductor by 2.3% in the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after buying an additional 161,132 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.