indie Semiconductor, Inc. (NASDAQ:INDI) Receives $10.50 Average PT from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) have received a consensus recommendation of "Buy" from the seven ratings firms that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have covered the stock in the last year is $10.50.

Several research analysts have weighed in on the company. Benchmark reiterated a "buy" rating and set a $12.00 price objective on shares of indie Semiconductor in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a "buy" rating for the company in a report on Friday, August 9th. Finally, Roth Mkm lowered their target price on shares of indie Semiconductor from $10.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, August 9th.

Insider Buying and Selling

In other news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Primecap Management Co. CA increased its holdings in shares of indie Semiconductor by 93.5% during the second quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company's stock worth $97,357,000 after buying an additional 7,624,797 shares in the last quarter. Bamco Inc. NY increased its holdings in indie Semiconductor by 28.0% in the 1st quarter. Bamco Inc. NY now owns 14,285,896 shares of the company's stock worth $101,144,000 after purchasing an additional 3,121,255 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company's stock valued at $12,752,000 after purchasing an additional 2,377,612 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of indie Semiconductor during the third quarter valued at about $4,478,000. Finally, General American Investors Co. Inc. grew its holdings in shares of indie Semiconductor by 46.5% during the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company's stock worth $5,376,000 after purchasing an additional 427,928 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

indie Semiconductor Stock Performance

Shares of INDI stock traded up $0.18 during trading on Friday, reaching $3.49. 2,577,557 shares of the company's stock were exchanged, compared to its average volume of 2,108,979. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $8.69. The firm's fifty day moving average price is $3.72 and its 200-day moving average price is $5.20. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $688.98 million, a PE ratio of -6.84 and a beta of 1.22.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, meeting 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 analysts' expectations of $53.61 million. During the same period in the prior year, the firm earned ($0.11) EPS. The business's revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that indie Semiconductor will post -0.7 EPS for the current 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.