indie Semiconductor, Inc. (NASDAQ:INDI) Receives $6.08 Average Price Target from Analysts

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven analysts that are presently 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 target price among analysts that have covered the stock in the last year is $6.08.

INDI has been the topic of several analyst reports. Craig Hallum decreased their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Benchmark restated a "buy" rating and issued a $8.00 target price (up from $6.00) on shares of indie Semiconductor in a research note on Wednesday, June 25th. Finally, KeyCorp reduced their price objective on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th.

indie Semiconductor Stock Performance

Shares of NASDAQ INDI traded down $0.01 during trading hours on Friday, reaching $3.84. The stock had a trading volume of 2,249,260 shares, compared to its average volume of 3,874,584. The firm has a market cap of $816.05 million, a price-to-earnings ratio of -5.12 and a beta of 2.20. 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 fifty-two week low of $1.53 and a fifty-two week high of $7.45. The firm has a 50-day moving average of $3.03 and a 200-day moving average of $3.07.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (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 business had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. During the same period in the prior year, the business posted ($0.10) EPS. The company's revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts predict that indie Semiconductor will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In other indie Semiconductor news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $2.59, for a total value of $35,547.75. Following the sale, the chief operating officer owned 101,662 shares of the company's stock, valued at $263,304.58. This trade represents a 11.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of indie Semiconductor stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the completion of the sale, the director directly owned 119,857 shares in the company, valued at approximately $409,910.94. This represents a 8.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,823 shares of company stock worth $128,088 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently bought and sold shares of the business. National Bank of Canada FI grew its position in shares of indie Semiconductor by 42.7% in the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock valued at $54,000 after purchasing an additional 4,023 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of indie Semiconductor during the 4th quarter worth $55,000. Regal Investment Advisors LLC increased its holdings in indie Semiconductor by 39.2% in the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after purchasing an additional 3,988 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in indie Semiconductor by 74.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock worth $60,000 after purchasing an additional 6,363 shares in the last quarter. Finally, Kera Capital Partners Inc. acquired a new position in indie Semiconductor in the 1st quarter worth about $31,000. 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.