indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Recommendation of "Buy" from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) have received a consensus rating of "Buy" from the seven analysts that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $9.79.

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on 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 cut their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a "buy" rating for the company in a report on Friday, November 8th. Finally, Benchmark decreased their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th.

Insiders Place Their Bets

In other news, CFO Thomas Schiller sold 75,000 shares of the 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 sale, the chief financial officer now directly owns 977,192 shares of the company's stock, valued at $3,742,645.36. This represents a 7.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Donald Mcclymont sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,351 shares of the company's stock, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 278,531 shares of company stock valued at $1,242,915 in the last 90 days. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company's stock worth $25,000 after purchasing an additional 3,906 shares during the period. Wealth Effects LLC grew its position in shares of indie Semiconductor by 2.8% during the 2nd quarter. Wealth Effects LLC now owns 170,700 shares of the company's stock worth $1,053,000 after buying an additional 4,600 shares during the period. Register Financial Advisors LLC raised its stake in shares of indie Semiconductor by 3.7% during the second quarter. Register Financial Advisors LLC now owns 138,440 shares of the company's stock worth $854,000 after buying an additional 5,000 shares during the last quarter. Tempus Wealth Planning LLC lifted its holdings in indie Semiconductor by 30.6% in the second quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company's stock valued at $138,000 after buying an additional 5,238 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in indie Semiconductor by 14.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company's stock valued at $306,000 after acquiring an additional 5,394 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock traded up $0.03 during midday trading on Thursday, hitting $5.03. 1,928,698 shares of the company were exchanged, compared to its average volume of 2,897,500. The firm has a 50 day simple moving average of $3.97 and a 200-day simple moving average of $5.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The firm has a market cap of $1.02 billion, a P/E ratio of -7.51 and a beta of 1.22. indie Semiconductor has a 52 week low of $3.16 and a 52 week high of $8.69.

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.