KeyCorp Has Lowered Expectations for indie Semiconductor (NASDAQ:INDI) Stock Price

indie Semiconductor (NASDAQ:INDI - Get Free Report) had its price objective dropped by stock analysts at KeyCorp from $7.00 to $6.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price objective would indicate a potential upside of 122.22% from the company's current price.

Other analysts have also recently issued research reports about the stock. UBS Group initiated coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They issued a "neutral" rating and a $4.50 price objective for the company. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Finally, Benchmark dropped their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, indie Semiconductor has a consensus rating of "Moderate Buy" and an average price target of $5.75.

indie Semiconductor Stock Performance

Shares of NASDAQ INDI traded down $0.08 during mid-day trading on Tuesday, reaching $2.70. 2,149,249 shares of the company were exchanged, compared to its average volume of 3,713,717. indie Semiconductor has a twelve month low of $1.53 and a twelve month 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 company's 50-day simple moving average is $2.12 and its 200-day simple moving average is $3.41. The stock has a market capitalization of $562.93 million, a P/E ratio of -3.55 and a beta of 2.01.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business had revenue of $54.08 million during the quarter, compared to analysts' expectations of $54.94 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The business's revenue was up 3.2% on a year-over-year basis. As a group, research analysts predict 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, COO Michael Wittmann sold 10,875 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $2.81, for a total value of $30,558.75. Following the transaction, the chief operating officer now directly owns 77,887 shares of the company's stock, valued at $218,862.47. This trade represents a 12.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 65,932 shares in the company, valued at approximately $205,707.84. This represents a 43.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,277 shares of company stock valued at $434,192 in the last ninety days. 8.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds have recently bought and sold shares of INDI. Kera Capital Partners Inc. bought a new stake in shares of indie Semiconductor during the 1st quarter valued at approximately $31,000. National Bank of Canada FI grew its holdings in shares of indie Semiconductor by 32.7% during the 1st quarter. National Bank of Canada FI now owns 17,852 shares of the company's stock valued at $36,000 after purchasing an additional 4,400 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of indie Semiconductor by 36.5% during the 1st quarter. Hsbc Holdings PLC now owns 19,486 shares of the company's stock valued at $39,000 after purchasing an additional 5,213 shares during the last quarter. SlateStone Wealth LLC grew its holdings in shares of indie Semiconductor by 27.1% during the 1st quarter. SlateStone Wealth LLC now owns 22,100 shares of the company's stock valued at $45,000 after purchasing an additional 4,706 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of indie Semiconductor during the 1st quarter valued at approximately $53,000. 67.73% of the stock is owned by 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.