UBS Group Initiates Coverage on indie Semiconductor (NASDAQ:INDI)

Equities research analysts at UBS Group began coverage on shares of indie Semiconductor (NASDAQ:INDI - Get Free Report) in a research note issued on Friday, Marketbeat reports. The firm set a "neutral" rating and a $4.50 price target on the stock. UBS Group's price target indicates a potential upside of 5.39% from the stock's current price.

Several other research firms have also recently weighed in on INDI. Roth Mkm cut their price objective on indie Semiconductor from $7.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Benchmark cut their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $8.29.

indie Semiconductor Stock Down 2.1 %

Shares of INDI stock traded down $0.09 during trading hours on Friday, reaching $4.27. The company had a trading volume of 3,545,373 shares, compared to its average volume of 4,101,938. The company has a market cap of $862.20 million, a price-to-earnings ratio of -6.37 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor has a 12 month low of $3.16 and a 12 month high of $7.82. The business has a fifty day simple moving average of $4.40 and a 200-day simple moving average of $4.40.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.12). The firm had revenue of $53.97 million for the quarter, compared to analysts' expectations of $53.65 million. indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. During the same period in the prior year, the firm earned ($0.17) earnings per share. On average, research analysts expect that indie Semiconductor will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Donald Mcclymont sold 200,000 shares of the company'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 sale, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the transaction, the chief operating officer now directly owns 28,860 shares of the company's stock, valued at approximately $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,593 shares of company stock valued at $1,272,291 in the last 90 days. 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 made changes to their positions in the stock. Xponance Inc. purchased a new position in indie Semiconductor during the 2nd quarter valued at about $63,000. Virtu Financial LLC bought a new position in shares of indie Semiconductor in the third quarter valued at approximately $58,000. Algert Global LLC bought a new position in shares of indie Semiconductor in the second quarter valued at approximately $97,000. B. Riley Wealth Advisors Inc. purchased a new position in indie Semiconductor during the second quarter valued at approximately $105,000. Finally, FNY Investment Advisers LLC bought a new stake in indie Semiconductor during the 4th quarter worth approximately $74,000. 67.73% of the stock is currently owned by institutional investors.

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.