indie Semiconductor, Inc. (NASDAQ:INDI) Receives $8.92 Consensus Price Target from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received a consensus rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $8.92.

INDI has been the topic of several recent analyst reports. Benchmark dropped their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Roth Mkm dropped their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th.

indie Semiconductor Stock Up 2.1 %

indie Semiconductor stock opened at $4.37 on Friday. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $7.82. The stock’s fifty day simple moving average is $4.41 and its 200-day simple moving average is $4.41. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $882.39 million, a P/E ratio of -6.52 and a beta of 1.41.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, November 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $53.97 million during the quarter, compared to analysts’ expectations of $53.65 million. indie Semiconductor had a negative net margin of 49.88% and a negative return on equity of 24.04%. During the same period last year, the company earned ($0.17) EPS. As a group, equities analysts expect that indie Semiconductor will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the sale, the chief executive officer now owns 18,351 shares in the company, valued at approximately $79,092.81. This represents a 73.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Wittmann sold 18,375 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the sale, the chief operating officer now owns 28,860 shares of the company’s stock, valued at $118,326. This trade represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,593 shares of company stock valued at $1,272,291. 8.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently made changes to their positions in INDI. American Trust lifted its position in indie Semiconductor by 28.2% in the third quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after purchasing an additional 6,375 shares during the period. The Manufacturers Life Insurance Company lifted its position in indie Semiconductor by 11.8% in the second quarter. The Manufacturers Life Insurance Company now owns 62,769 shares of the company’s stock valued at $387,000 after purchasing an additional 6,608 shares during the period. Truvestments Capital LLC lifted its position in indie Semiconductor by 15.6% in the third quarter. Truvestments Capital LLC now owns 56,456 shares of the company’s stock valued at $225,000 after purchasing an additional 7,601 shares during the period. Xponance Inc. acquired a new stake in indie Semiconductor in the second quarter valued at about $63,000. Finally, Meros Investment Management LP lifted its position in indie Semiconductor by 1.6% in the second quarter. Meros Investment Management LP now owns 821,229 shares of the company’s stock valued at $5,067,000 after purchasing an additional 12,836 shares during the period. Institutional investors and hedge funds 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.