Benchmark Has Lowered Expectations for indie Semiconductor (NASDAQ:INDI) Stock Price

indie Semiconductor (NASDAQ:INDI - Free Report) had its target price cut by Benchmark from $8.00 to $6.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

INDI has been the subject of a number of other reports. UBS Group started coverage on indie Semiconductor in a research note on Friday, January 24th. They issued a "neutral" rating and a $4.50 price objective for the company. KeyCorp dropped their target price on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $5.75.

indie Semiconductor Trading Down 2.9%

INDI stock traded down $0.08 during mid-day trading on Tuesday, hitting $2.70. 2,149,249 shares of the company were exchanged, compared to its average volume of 3,713,717. indie Semiconductor has a 12-month low of $1.53 and a 12-month high of $7.82. The firm has a market capitalization of $562.93 million, a P/E ratio of -3.55 and a beta of 2.01. The business has a fifty day simple moving average of $2.12 and a 200-day simple moving average of $3.41. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The firm had revenue of $54.08 million during the quarter, compared to analysts' expectations of $54.94 million. During the same quarter last year, the company posted ($0.10) EPS. The firm's quarterly revenue was up 3.2% on a year-over-year basis. On average, equities research analysts predict that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Michael Wittmann sold 10,875 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $2.81, for a total value of $30,558.75. Following the sale, the chief operating officer now owns 77,887 shares of the company's stock, valued at $218,862.47. This trade represents a 12.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the completion of the transaction, the chief executive officer now owns 65,932 shares of the company's stock, valued at $205,707.84. This represents a 43.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,277 shares of company stock valued at $434,192 in the last three months. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently modified their holdings of INDI. Barclays PLC grew its stake in shares of indie Semiconductor by 330.7% during the third quarter. Barclays PLC now owns 256,799 shares of the company's stock worth $1,026,000 after purchasing an additional 197,179 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of indie Semiconductor during the 4th quarter worth about $74,000. Artemis Investment Management LLP lifted its stake in indie Semiconductor by 482.7% during the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company's stock worth $26,486,000 after purchasing an additional 5,417,296 shares during the last quarter. Register Financial Advisors LLC lifted its stake in indie Semiconductor by 60.4% during the fourth quarter. Register Financial Advisors LLC now owns 337,028 shares of the company's stock worth $1,365,000 after purchasing an additional 126,888 shares during the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new position in indie Semiconductor in the fourth quarter valued at approximately $215,000. 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.