indie Semiconductor (NASDAQ:INDI) Given New $5.00 Price Target at Roth Mkm

indie Semiconductor (NASDAQ:INDI - Free Report) had its target price trimmed by Roth Mkm from $7.00 to $5.00 in a report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on INDI. Deutsche Bank Aktiengesellschaft decreased 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. Benchmark decreased their price target on indie Semiconductor from $12.00 to $9.00 and set a "buy" rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $9.79.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI traded up $2.05 on Friday, hitting $5.48. 36,167,760 shares of the company were exchanged, compared to its average volume of 2,846,733. The firm has a market capitalization of $1.08 billion, a P/E ratio of -9.59 and a beta of 1.22. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31. indie Semiconductor has a 1-year low of $3.16 and a 1-year high of $8.69. The stock's 50 day moving average price is $3.67 and its 200 day moving average price is $5.14.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, hitting analysts' consensus estimates of ($0.09). The company had revenue of $52.40 million during the quarter, compared to analysts' expectations of $53.61 million. indie Semiconductor had a negative return on equity of 22.48% and a negative net margin of 34.65%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) EPS. Sell-side analysts predict that indie Semiconductor will post -0.7 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INDI. GAMMA Investing LLC increased its stake in indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company's stock worth $25,000 after buying an additional 3,906 shares in the last quarter. Xponance Inc. acquired a new stake in indie Semiconductor during the 2nd quarter worth $63,000. Creative Planning purchased a new stake in shares of indie Semiconductor during the third quarter worth $75,000. Legato Capital Management LLC acquired a new stake in shares of indie Semiconductor in the second quarter valued at about $76,000. Finally, SlateStone Wealth LLC purchased a new position in shares of indie Semiconductor in the second quarter worth about $82,000. 67.73% of the stock is owned by hedge funds and other 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.