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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.75.

Several equities analysts have recently commented on the company. UBS Group initiated coverage on indie Semiconductor in a research note on Friday, January 24th. They set a "neutral" rating and a $4.50 price target on the stock. Craig Hallum reduced their target price 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. Benchmark reiterated a "buy" rating and issued a $6.00 price target on shares of indie Semiconductor in a report on Wednesday. KeyCorp cut their price target on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th.

indie Semiconductor Stock Performance

Shares of INDI remained flat at $2.42 during trading hours on Thursday. 1,489,065 shares of the stock were exchanged, compared to its average volume of 3,711,930. The stock has a market capitalization of $514.28 million, a price-to-earnings ratio of -3.18 and a beta of 2.01. indie Semiconductor has a 1 year low of $1.53 and a 1 year high of $7.82. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $2.13 and a two-hundred day moving average of $3.38.

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, meeting analysts' consensus estimates of ($0.08). The firm had revenue of $54.08 million during the quarter, compared to analyst estimates of $54.94 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business's revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) earnings per share. On average, research analysts forecast that indie Semiconductor will post -0.54 earnings per share for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $3.12, for a total value of $156,000.00. Following the completion of the transaction, the chief executive officer now owns 65,932 shares of the company's stock, valued at approximately $205,707.84. The trade was a 43.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Wittmann sold 10,875 shares of indie Semiconductor stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the completion of the transaction, the chief operating officer now directly owns 77,887 shares of the company's stock, valued at $218,862.47. The trade was a 12.25% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,277 shares of company stock valued at $434,192. 8.20% of the stock is owned by company insiders.

Institutional Trading of indie Semiconductor

Several institutional investors have recently bought and sold shares of INDI. Register Financial Advisors LLC grew its holdings in indie Semiconductor by 60.4% in the fourth quarter. Register Financial Advisors LLC now owns 337,028 shares of the company's stock valued at $1,365,000 after purchasing an additional 126,888 shares during the period. Redwood Wealth Management Group LLC purchased a new position in indie Semiconductor during the fourth quarter valued at $215,000. Elemental Capital Partners LLC purchased a new position in indie Semiconductor during the fourth quarter valued at $14,272,000. Legato Capital Management LLC lifted its holdings in indie Semiconductor by 47.9% during the fourth quarter. Legato Capital Management LLC now owns 20,285 shares of the company's stock valued at $82,000 after purchasing an additional 6,570 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in indie Semiconductor by 1.8% during the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company's stock valued at $968,000 after purchasing an additional 4,156 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.