indie Semiconductor (NASDAQ:INDI) Earns Buy Rating from Benchmark

indie Semiconductor (NASDAQ:INDI - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Benchmark in a note issued to investors on Wednesday,Benzinga reports. They currently have a $8.00 price objective on the stock. Benchmark's price objective would suggest a potential upside of 303.02% from the company's current price.

A number of other brokerages also recently issued reports on INDI. UBS Group started coverage on indie Semiconductor in a research report on Friday, January 24th. They set a "neutral" rating and a $4.50 price target on the stock. KeyCorp decreased their price target on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

indie Semiconductor Stock Down 4.6 %

Shares of NASDAQ:INDI traded down $0.10 during trading hours on Wednesday, hitting $1.99. The company's stock had a trading volume of 1,948,206 shares, compared to its average volume of 3,768,506. The firm's fifty day moving average price is $2.79 and its 200 day moving average price is $3.68. indie Semiconductor has a 52 week low of $1.53 and a 52 week high of $7.82. The company has a market capitalization of $400.80 million, a price-to-earnings ratio of -2.61 and a beta of 1.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87.

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

Insider Buying and Selling

In other news, CEO Donald Mcclymont sold 65,754 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the completion of the transaction, the chief executive officer now owns 246,535 shares of the company's stock, valued at $714,951.50. The trade was a 21.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 value of $30,558.75. Following the completion of the sale, the chief operating officer now owns 77,887 shares in the company, valued at $218,862.47. The trade was a 12.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,277 shares of company stock valued at $434,192 over the last quarter. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Regal Investment Advisors LLC grew its stake in shares of indie Semiconductor by 39.2% during the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after purchasing an additional 3,988 shares during the period. National Bank of Canada FI increased its holdings in indie Semiconductor by 42.7% in the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock valued at $54,000 after buying an additional 4,023 shares in the last quarter. Rhumbline Advisers raised its position in shares of indie Semiconductor by 1.8% in the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company's stock worth $968,000 after acquiring an additional 4,156 shares during the period. Invesco Ltd. boosted its stake in shares of indie Semiconductor by 5.5% during the 4th quarter. Invesco Ltd. now owns 93,328 shares of the company's stock worth $378,000 after acquiring an additional 4,879 shares in the last quarter. Finally, American Trust increased its stake in shares of indie Semiconductor by 20.3% in the 4th quarter. American Trust now owns 34,845 shares of the company's stock valued at $141,000 after purchasing an additional 5,869 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

About indie Semiconductor

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.