Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) PT at $7.50

Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.50.

A number of equities analysts have commented on the company. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. KeyCorp lowered their price objective on indie Semiconductor from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. UBS Group assumed coverage on indie Semiconductor in a research note on Friday, January 24th. They issued a "neutral" rating and a $4.50 price target on the stock. Finally, Benchmark restated a "buy" rating and issued a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday, April 9th.

indie Semiconductor Stock Performance

Shares of INDI stock traded up $0.03 on Friday, hitting $2.02. The company had a trading volume of 185,997 shares, compared to its average volume of 3,956,161. The firm has a market cap of $420.12 million, a P/E ratio of -2.64 and a beta of 1.84. indie Semiconductor has a twelve month low of $1.53 and a twelve month high of $7.82. The company has a 50-day moving average price of $2.27 and a 200-day moving average price of $3.51. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The firm had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. As a group, equities research analysts predict that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Michael Wittmann sold 10,875 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $2.81, for a total value 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. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the sale, the chief executive officer now owns 65,932 shares of the company's stock, valued at $205,707.84. This represents a 43.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,277 shares of company stock worth $434,192 over the last 90 days. Corporate insiders own 8.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INDI. National Bank of Canada FI lifted its stake 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 period. ArrowMark Colorado Holdings LLC purchased a new stake in shares of indie Semiconductor in the fourth quarter valued at $55,000. Regal Investment Advisors LLC lifted 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 valued at $57,000 after purchasing an additional 3,988 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of indie Semiconductor during the third quarter valued at approximately $58,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of indie Semiconductor by 74.6% during 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 during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.