indie Semiconductor (NASDAQ:INDI) Price Target Lowered to $7.00 at KeyCorp

indie Semiconductor (NASDAQ:INDI - Get Free Report) had its price objective lowered by research analysts at KeyCorp from $8.00 to $7.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price target would indicate a potential upside of 112.77% from the company's current price.

Several other equities analysts have also recently commented on the stock. Roth Mkm reduced their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Friday, November 8th. UBS Group initiated coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They set a "neutral" rating and a $4.50 price target for the company. Finally, Benchmark decreased their price target on shares of indie Semiconductor from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $7.50.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI traded down $0.22 during trading on Friday, hitting $3.29. 4,052,447 shares of the company were exchanged, compared to its average volume of 3,984,512. indie Semiconductor has a 52-week low of $3.16 and a 52-week high of $7.82. The stock has a 50 day moving average of $4.15 and a 200 day moving average of $4.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The company has a market cap of $664.32 million, a PE ratio of -4.33 and a beta of 1.41.

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indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The company had revenue of $58.01 million for 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%. As a group, equities research analysts predict that indie Semiconductor will post -0.54 EPS for the current year.

Insider Transactions at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. The trade was a 73.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the sale, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,512 shares of company stock valued at $313,345 in the last quarter. Insiders own 8.20% of the company's stock.

Institutional Trading of indie Semiconductor

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

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.