indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Recommendation of "Moderate Buy" by Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.75.

A number of analysts have recently weighed in on INDI shares. Benchmark reiterated a "buy" rating and issued a $6.00 price objective on shares of indie Semiconductor in a research note on Wednesday, June 11th. B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Craig Hallum reduced their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, KeyCorp decreased their price objective on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total transaction of $35,547.75. Following the transaction, the chief operating officer now directly owns 101,662 shares of the company's stock, valued at $263,304.58. This trade represents a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $3.42, for a total transaction of $40,496.22. Following the sale, the director now directly owns 119,857 shares of the company's stock, valued at $409,910.94. This represents a 8.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,291 shares of company stock valued at $111,592. Corporate insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fred Alger Management LLC purchased a new stake in indie Semiconductor during the 1st quarter worth approximately $2,527,000. Nexpoint Asset Management L.P. boosted its holdings in shares of indie Semiconductor by 43.7% during the 1st quarter. Nexpoint Asset Management L.P. now owns 165,959 shares of the company's stock worth $338,000 after purchasing an additional 50,459 shares during the last quarter. Millennium Management LLC grew its position in shares of indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock valued at $7,535,000 after purchasing an additional 3,037,435 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of indie Semiconductor by 42.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company's stock valued at $2,040,000 after purchasing an additional 298,339 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of indie Semiconductor by 309.7% in the first quarter. Royal Bank of Canada now owns 551,007 shares of the company's stock valued at $1,122,000 after purchasing an additional 416,519 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Stock Performance

INDI traded up $0.05 on Monday, reaching $3.21. 2,880,412 shares of the stock were exchanged, compared to its average volume of 3,764,610. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64. The company's 50-day moving average price is $2.46 and its 200 day moving average price is $3.16. The firm has a market capitalization of $682.16 million, a PE ratio of -4.28 and a beta of 2.12. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $7.45.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative return on equity of 27.25% and a negative net margin of 62.64%. The firm had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company's revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that indie Semiconductor will post -0.54 EPS for the current fiscal year.

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.