Shares of indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $3.46, but opened at $3.30. indie Semiconductor shares last traded at $3.26, with a volume of 1,112,685 shares.
Analyst Ratings Changes
A number of research firms recently issued reports on INDI. KeyCorp lowered their price objective on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Craig Hallum reduced their price objective on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Finally, Benchmark reissued a "buy" rating and set a $6.00 price target on shares of indie Semiconductor in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $5.75.
Read Our Latest Report on indie Semiconductor
indie Semiconductor Stock Up 6.9%
The firm has a market capitalization of $724.67 million, a price-to-earnings ratio of -4.49 and a beta of 2.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The stock has a fifty day moving average of $2.37 and a two-hundred day moving average of $3.18.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $54.08 million during the quarter, compared to analysts' expectations of $54.94 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The business's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.
Insider Transactions at indie Semiconductor
In related news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total transaction of $35,547.75. Following the completion of the transaction, the chief operating officer now owns 101,662 shares of the company's stock, valued at $263,304.58. This trade represents a 11.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.60% of the company's stock.
Institutional Trading of indie Semiconductor
A number of large investors have recently bought and sold shares of INDI. Primecap Management Co. CA boosted its position in shares of indie Semiconductor by 8.9% during the 1st quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock valued at $58,249,000 after purchasing an additional 2,335,620 shares in the last quarter. Bamco Inc. NY lifted its stake in indie Semiconductor by 30.6% in the fourth quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock valued at $80,602,000 after buying an additional 4,661,220 shares during the period. Frontier Capital Management Co. LLC lifted its stake in indie Semiconductor by 60.0% in 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 buying an additional 6,517,978 shares during the period. Vanguard Group Inc. boosted its holdings in shares of indie Semiconductor by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 12,805,999 shares of the company's stock worth $26,060,000 after buying an additional 220,737 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of indie Semiconductor by 23.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,102,127 shares of the company's stock valued at $8,348,000 after acquiring an additional 768,907 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
indie Semiconductor Company Profile
(
Get Free Report)
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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