Benchmark Has Lowered Expectations for indie Semiconductor (NASDAQ:INDI) Stock Price

indie Semiconductor (NASDAQ:INDI - Get Free Report) had its price target reduced by Benchmark from $12.00 to $9.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Benchmark's target price suggests a potential upside of 170.27% from the company's previous close.

A number of other brokerages have also recently issued reports on INDI. Roth Mkm dropped their price objective on shares of indie Semiconductor from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on indie Semiconductor from $9.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $10.07.

indie Semiconductor Trading Down 1.2 %

Shares of NASDAQ INDI traded down $0.04 during midday trading on Tuesday, hitting $3.33. 3,431,821 shares of the company traded hands, compared to its average volume of 2,691,637. indie Semiconductor has a 12-month low of $3.16 and a 12-month high of $8.69. The firm has a market cap of $657.41 million, a P/E ratio of -6.49 and a beta of 1.22. The stock has a 50-day moving average price of $3.71 and a 200 day moving average price of $5.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The firm had revenue of $52.40 million during the quarter, compared to analyst estimates of $53.61 million. indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The business's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) EPS. As a group, analysts expect that indie Semiconductor will post -0.7 earnings per share for the current year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of indie Semiconductor by 15.3% during the 1st quarter. Principal Financial Group Inc. now owns 20,162 shares of the company's stock valued at $143,000 after purchasing an additional 2,674 shares during the last quarter. Commonwealth Equity Services LLC raised its position in indie Semiconductor by 63.1% in the first quarter. Commonwealth Equity Services LLC now owns 80,638 shares of the company's stock worth $571,000 after acquiring an additional 31,200 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of indie Semiconductor by 26.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,300,540 shares of the company's stock worth $9,208,000 after acquiring an additional 268,776 shares during the last quarter. Zevenbergen Capital Investments LLC bought a new stake in shares of indie Semiconductor during the 1st quarter valued at $524,000. Finally, Swiss National Bank increased its stake in shares of indie Semiconductor by 5.4% in the 1st quarter. Swiss National Bank now owns 270,800 shares of the company's stock worth $1,917,000 after purchasing an additional 13,800 shares in the last quarter. Institutional investors 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.