Brokerages Set indie Semiconductor, Inc. (NASDAQ:INDI) Target Price at $10.50

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) has been assigned a consensus recommendation of "Buy" from the seven analysts that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $10.50.

A number of equities research analysts have recently issued reports on INDI shares. Deutsche Bank Aktiengesellschaft dropped their price target 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. Roth Mkm dropped their target price on indie Semiconductor from $10.00 to $7.00 and set a "buy" rating for the company in a report on Friday, August 9th. Finally, Benchmark reiterated a "buy" rating and set a $12.00 price target on shares of indie Semiconductor in a report on Tuesday, September 10th.

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.20% of the company's stock.

Institutional Trading of indie Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. boosted its holdings in indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company's stock valued at $56,000 after purchasing an additional 2,000 shares during the period. ProShare Advisors LLC grew its position in shares of indie Semiconductor by 8.5% during the first quarter. ProShare Advisors LLC now owns 27,071 shares of the company's stock worth $192,000 after buying an additional 2,131 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of indie Semiconductor by 15.3% during the first quarter. Principal Financial Group Inc. now owns 20,162 shares of the company's stock worth $143,000 after buying an additional 2,674 shares during the period. GAMMA Investing LLC increased its stake in shares of indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company's stock worth $25,000 after buying an additional 3,906 shares during the period. Finally, Quent Capital LLC raised its holdings in indie Semiconductor by 66.7% in the first quarter. Quent Capital LLC now owns 10,000 shares of the company's stock valued at $71,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

indie Semiconductor Price Performance

INDI stock traded down $0.03 during midday trading on Wednesday, reaching $3.71. The stock had a trading volume of 842,906 shares, compared to its average volume of 2,749,601. indie Semiconductor has a 52-week low of $3.16 and a 52-week high of $8.69. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31. The company's fifty day simple moving average is $4.02 and its 200 day simple moving average is $5.56. The company has a market cap of $732.43 million, a price-to-earnings ratio of -7.57 and a beta of 1.20.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The firm had revenue of $52.40 million for the quarter, compared to the consensus estimate of $53.61 million. During the same period last year, the firm posted ($0.11) earnings per share. The company's revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts predict that indie Semiconductor will post -0.7 earnings per share for the current fiscal year.

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.