indie Semiconductor, Inc. (NASDAQ:INDI) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $5.75.

A number of brokerages have issued reports on INDI. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Craig Hallum cut their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. KeyCorp cut their price objective on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Benchmark reissued a "buy" rating and set a $6.00 price objective on shares of indie Semiconductor in a report on Wednesday, May 21st.

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 50,000 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $3.12, for a total transaction of $156,000.00. Following the transaction, the chief executive officer now owns 65,932 shares in the company, valued at $205,707.84. This represents a 43.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Wittmann sold 13,570 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the transaction, the chief operating officer now owns 67,012 shares in the company, valued at approximately $194,334.80. This trade represents a 16.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,277 shares of company stock worth $434,192 in the last 90 days. Corporate insiders own 8.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Primecap Management Co. CA raised its holdings in indie Semiconductor by 8.9% during the 1st quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock worth $58,249,000 after purchasing an additional 2,335,620 shares during the last quarter. Bamco Inc. NY lifted its position in indie Semiconductor by 30.6% during the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock valued at $80,602,000 after purchasing an additional 4,661,220 shares during the period. Frontier Capital Management Co. LLC lifted its position in indie Semiconductor by 60.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock valued at $70,366,000 after purchasing an additional 6,517,978 shares during the period. Vanguard Group Inc. lifted its position in indie Semiconductor by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 12,805,999 shares of the company's stock valued at $26,060,000 after purchasing an additional 220,737 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in indie Semiconductor by 23.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,102,127 shares of the company's stock valued at $8,348,000 after purchasing an additional 768,907 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

indie Semiconductor Stock Performance

INDI traded up $0.18 during trading on Thursday, reaching $2.60. 3,408,095 shares of the company's stock were exchanged, compared to its average volume of 3,718,429. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $7.82. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $2.14 and a 200 day moving average price of $3.35. The company has a market capitalization of $552.54 million, a P/E ratio of -3.42 and a beta of 2.01.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The firm had revenue of $54.08 million for the quarter, compared to the consensus estimate of $54.94 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The business's revenue was up 3.2% compared to the same quarter last year. As a group, analysts predict that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

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.