indie Semiconductor, Inc. (NASDAQ:INDI) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• indie Semiconductor has received an average rating of "Moderate Buy" from seven analysts, with one hold recommendation and six buy recommendations, and a 12-month price target averaging $6.08.
• The company's shares have shown noticeable price movements, opening at $3.81 and experiencing a 1.9% increase recently, with a 1-year low of $1.53 and high of $5.57.
• Recent insider transactions include COO Michael Wittmann selling 13,725 shares, representing an 11.89% decrease in his ownership, and overall, insiders have sold a total of 43,823 shares in the last three months.

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) have received an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.0833.

A number of equities research analysts have recently issued reports on the company. Craig Hallum dropped their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Benchmark restated a "buy" rating and set a $8.00 target price (up from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. KeyCorp cut their price target on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, B. Riley reissued a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th.

indie Semiconductor Stock Up 1.9%

Shares of INDI stock opened at $3.81 on Tuesday. The firm's fifty day moving average price is $3.59 and its two-hundred day moving average price is $3.06. The company has a current ratio of 5.30, a quick ratio of 4.64 and a debt-to-equity ratio of 0.85. indie Semiconductor has a 1 year low of $1.53 and a 1 year high of $5.57. The firm has a market capitalization of $809.66 million, a P/E ratio of -5.08 and a beta of 2.23.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). indie Semiconductor had a negative return on equity of 27.25% and a negative net margin of 62.64%. The company 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 earned ($0.10) EPS. indie Semiconductor's revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts predict that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor 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 completion of the transaction, the chief operating officer directly owned 101,662 shares of the company's stock, valued at $263,304.58. The trade was a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $3.42, for a total transaction of $40,496.22. Following the completion of the transaction, the director owned 119,857 shares in the company, valued at approximately $409,910.94. This represents a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,823 shares of company stock worth $128,088 over the last three months. 5.60% of the stock is owned by insiders.

Institutional Trading of indie Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in indie Semiconductor by 12.4% during the fourth quarter. Barclays PLC now owns 288,715 shares of the company's stock worth $1,169,000 after acquiring an additional 31,916 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of indie Semiconductor by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company's stock worth $50,970,000 after purchasing an additional 942,088 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of indie Semiconductor by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company's stock worth $1,069,000 after purchasing an additional 32,979 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in indie Semiconductor by 56.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,736 shares of the company's stock worth $326,000 after purchasing an additional 55,872 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in indie Semiconductor in the 4th quarter valued at $386,000. Institutional investors own 67.73% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.