indie Semiconductor (NASDAQ:INDI) Price Target Cut to $6.00 by Analysts at KeyCorp

indie Semiconductor (NASDAQ:INDI - Get Free Report) had its price objective cut by stock analysts at KeyCorp from $7.00 to $6.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price objective would indicate a potential upside of 134.38% from the company's current price.

A number of other research firms have also recently weighed in on INDI. UBS Group initiated coverage on indie Semiconductor in a report on Friday, January 24th. They issued a "neutral" rating and a $4.50 price target for the company. Benchmark reduced their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.70.

indie Semiconductor Stock Performance

NASDAQ:INDI traded down $0.08 during mid-day trading on Tuesday, hitting $2.56. The company's stock had a trading volume of 2,823,985 shares, compared to its average volume of 3,693,181. indie Semiconductor has a 1 year low of $1.53 and a 1 year high of $7.82. The stock has a market cap of $533.74 million, a price-to-earnings ratio of -3.37 and a beta of 2.01. The business's fifty day moving average is $2.13 and its two-hundred day moving average is $3.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings data 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 return on equity of 28.08% and a negative net margin of 61.59%. The business had revenue of $54.08 million for the quarter, compared to analyst estimates of $54.94 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The company's revenue was up 3.2% on a year-over-year basis. Analysts anticipate that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On indie Semiconductor

Institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA increased 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 acquiring an additional 2,335,620 shares during the period. Bamco Inc. NY raised its holdings in indie Semiconductor by 30.6% in the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock worth $80,602,000 after acquiring an additional 4,661,220 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in indie Semiconductor by 60.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock valued at $70,366,000 after acquiring an additional 6,517,978 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of indie Semiconductor by 1.8% in the first quarter. Vanguard Group Inc. now owns 12,805,999 shares of the company's stock worth $26,060,000 after purchasing an additional 220,737 shares during the period. Finally, Artemis Investment Management LLP raised its stake in indie Semiconductor by 482.7% during the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company's stock valued at $26,486,000 after purchasing an additional 5,417,296 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

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.

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