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

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 earned a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.0833.

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

indie Semiconductor Trading Up 3.3%

INDI traded up $0.13 during mid-day trading on Tuesday, hitting $3.95. 3,889,358 shares of the stock were exchanged, compared to its average volume of 4,014,459. The firm's fifty day moving average is $3.64 and its two-hundred day moving average is $3.07. indie Semiconductor has a 1-year low of $1.53 and a 1-year high of $5.57. The company has a market cap of $838.37 million, a PE ratio of -5.24 and a beta of 2.23. 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 (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $51.63 million for the quarter, compared to analysts' expectations of $51.40 million. indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) earnings per share. Equities analysts forecast that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer owned 101,662 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business'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 sale, the director directly owned 119,857 shares of the company's stock, valued at approximately $409,910.94. This trade represents a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,823 shares of company stock worth $128,088 in the last three months. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of indie Semiconductor

Large investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey increased its position in indie Semiconductor by 20.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 43,470 shares of the company's stock worth $155,000 after buying an additional 7,350 shares during the period. Geode Capital Management LLC grew its position in shares of indie Semiconductor by 9.5% during the second quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company's stock worth $16,285,000 after acquiring an additional 396,433 shares during the last quarter. ProShare Advisors LLC grew its position in shares of indie Semiconductor by 9.0% during the second quarter. ProShare Advisors LLC now owns 39,775 shares of the company's stock worth $142,000 after acquiring an additional 3,300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of indie Semiconductor by 20.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 892,783 shares of the company's stock valued at $3,178,000 after acquiring an additional 152,296 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in indie Semiconductor by 9.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company's stock valued at $162,000 after purchasing an additional 3,898 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.