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

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.08.

INDI has been the subject of a number of analyst reports. B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Benchmark reissued a "buy" rating and set a $8.00 price target (up from $6.00) on shares of indie Semiconductor in a report on Wednesday, June 25th. KeyCorp reduced their price target on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, Craig Hallum reduced their price target on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th.

indie Semiconductor Stock Performance

indie Semiconductor stock traded down $0.01 during mid-day trading on Friday, reaching $3.85. The company had a trading volume of 2,460,584 shares, compared to its average volume of 3,872,218. The company has a 50 day moving average of $2.99 and a 200-day moving average of $3.09. The firm has a market cap of $818.16 million, a price-to-earnings ratio of -5.13 and a beta of 2.20. indie Semiconductor has a 52 week low of $1.53 and a 52 week high of $7.45. The company has a quick ratio of 4.64, a current ratio of 5.30 and a debt-to-equity ratio of 0.85.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of indie Semiconductor by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company's stock valued at $5,796,000 after purchasing an additional 112,793 shares during the last quarter. M&T Bank Corp boosted its stake in shares of indie Semiconductor by 41.5% in the 4th quarter. M&T Bank Corp now owns 28,348 shares of the company's stock valued at $115,000 after purchasing an additional 8,308 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of indie Semiconductor by 13.0% in the 4th quarter. Arizona State Retirement System now owns 51,961 shares of the company's stock valued at $210,000 after purchasing an additional 5,960 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of indie Semiconductor in the 4th quarter valued at about $421,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of indie Semiconductor by 74.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company's stock valued at $60,000 after purchasing an additional 6,363 shares during the last quarter. Institutional investors 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.