indie Semiconductor (NASDAQ:INDI) Earns "Buy" Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of indie Semiconductor (NASDAQ:INDI - Free Report) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm currently has a $8.00 target price on the stock, up from their previous target price of $6.00.

A number of other equities research analysts also recently issued reports on INDI. KeyCorp lowered their price objective on indie Semiconductor from $7.00 to $6.00 and set an "overweight" 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, Craig Hallum lowered 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $6.08.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI traded down $0.20 during trading on Wednesday, hitting $3.64. 6,970,030 shares of the company were exchanged, compared to its average volume of 3,845,365. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.30 and a quick ratio of 4.64. indie Semiconductor has a 52-week low of $1.53 and a 52-week high of $7.45. The company has a market cap of $773.54 million, a PE ratio of -4.85 and a beta of 2.12. The stock has a 50 day moving average of $2.67 and a 200 day moving average of $3.12.

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 (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative return on equity of 27.25% and a negative net margin of 62.64%. The company had revenue of $54.08 million for the quarter, compared to the consensus estimate of $54.94 million. During the same quarter last year, the business posted ($0.10) earnings per share. The firm's revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that indie Semiconductor will post -0.54 EPS for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, Director Sonalee Elizabeth Parekh sold 11,841 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $3.42, for a total transaction of $40,496.22. Following the sale, the director now owns 119,857 shares in the company, valued at $409,910.94. This trade represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Wittmann sold 13,725 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $2.59, for a total value of $35,547.75. Following the transaction, the chief operating officer now directly owns 101,662 shares in the company, valued at $263,304.58. This trade represents a 11.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,291 shares of company stock worth $111,592 over the last 90 days. Corporate insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of INDI. Frontier Capital Management Co. LLC grew its stake in shares of 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 buying an additional 6,517,978 shares during the last quarter. Bamco Inc. NY grew its stake in shares of indie Semiconductor by 30.6% during 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 last quarter. Millennium Management LLC grew its stake in shares of indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock valued at $7,535,000 after buying an additional 3,037,435 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of indie Semiconductor by 8.9% during the first quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock valued at $58,249,000 after buying an additional 2,335,620 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in shares of indie Semiconductor during the fourth quarter valued at about $6,040,000. 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.