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

Benchmark restated their buy rating on shares of indie Semiconductor (NASDAQ:INDI - Free Report) in a research note published on Wednesday morning, MarketBeat reports. They currently have a $8.00 price target on the stock, up from their previous price target of $6.00.

INDI has been the topic of several other research reports. Craig Hallum cut their price target on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. KeyCorp cut their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, B. Riley reaffirmed a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.08.

indie Semiconductor Stock Up 0.3%

Shares of NASDAQ:INDI traded up $0.01 during midday trading on Wednesday, reaching $3.84. The company's stock had a trading volume of 5,060,220 shares, compared to its average volume of 3,822,604. The business's fifty day simple moving average is $2.59 and its 200-day simple moving average is $3.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.64 and a current ratio of 5.30. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $7.45.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). The company had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The company's revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, sell-side analysts anticipate that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Sonalee Elizabeth Parekh sold 11,841 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the completion of the sale, the director now owns 119,857 shares in the company, valued at $409,910.94. This represents a 8.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Wittmann sold 13,725 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $2.59, for a total value of $35,547.75. Following the sale, the chief operating officer now directly owns 101,662 shares in the company, valued at $263,304.58. The trade was a 11.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,291 shares of company stock worth $111,592. Insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Regal Investment Advisors LLC raised its position in shares of indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company's stock worth $57,000 after purchasing an additional 3,988 shares during the period. National Bank of Canada FI increased its stake in indie Semiconductor by 42.7% during the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company's stock worth $54,000 after purchasing an additional 4,023 shares in the last quarter. Rhumbline Advisers raised its holdings in indie Semiconductor by 1.8% during the 4th quarter. Rhumbline Advisers now owns 239,090 shares of the company's stock worth $968,000 after buying an additional 4,156 shares during the period. SlateStone Wealth LLC raised its holdings in indie Semiconductor by 27.1% during the 1st quarter. SlateStone Wealth LLC now owns 22,100 shares of the company's stock worth $45,000 after buying an additional 4,706 shares during the period. Finally, Invesco Ltd. lifted its stake in indie Semiconductor by 5.5% in the fourth quarter. Invesco Ltd. now owns 93,328 shares of the company's stock valued at $378,000 after buying an additional 4,879 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.