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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $7.50.

Several research analysts have commented on INDI shares. KeyCorp lowered their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Benchmark reduced their price objective on indie Semiconductor from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Finally, 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.

Insider Activity

In other news, CEO Donald Mcclymont sold 65,754 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the sale, the chief executive officer now directly owns 246,535 shares in the company, valued at approximately $714,951.50. This represents a 21.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Wittmann sold 10,875 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $2.81, for a total transaction of $30,558.75. Following the completion of the transaction, the chief operating officer now owns 77,887 shares of the company's stock, valued at approximately $218,862.47. This trade represents a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,289 shares of company stock worth $443,668 over the last 90 days. Company insiders own 8.20% of the company's stock.

Institutional Trading of indie Semiconductor

A number of hedge funds have recently bought and sold shares of INDI. Charles Schwab Investment Management Inc. increased its stake in shares of indie Semiconductor by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company's stock worth $5,260,000 after purchasing an additional 120,071 shares during the last quarter. Geode Capital Management LLC increased its position in shares of indie Semiconductor by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company's stock worth $15,739,000 after purchasing an additional 276,739 shares in the last quarter. State Street Corp raised its position in 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 purchasing an additional 161,132 shares during the last quarter. Barclays PLC grew its stake in shares of indie Semiconductor by 330.7% during the third quarter. Barclays PLC now owns 256,799 shares of the company's stock valued at $1,026,000 after purchasing an additional 197,179 shares during the last quarter. Finally, Elemental Capital Partners LLC acquired a new stake in shares of indie Semiconductor during the 4th quarter worth approximately $14,272,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock traded down $0.32 on Wednesday, reaching $1.60. The company's stock had a trading volume of 7,402,166 shares, compared to its average volume of 3,732,838. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $323.07 million, a P/E ratio of -2.11 and a beta of 1.84. indie Semiconductor has a 52-week low of $1.56 and a 52-week high of $7.82. The stock has a 50-day moving average price of $3.11 and a 200-day moving average price of $3.77.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share 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 analysts' expectations of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. Analysts expect that indie Semiconductor will post -0.54 EPS for the current year.

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.