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

Benchmark reiterated their buy rating on shares of indie Semiconductor (NASDAQ:INDI - Free Report) in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a $6.00 price target on the stock.

A number of other brokerages have also recently commented on INDI. UBS Group began coverage on 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 restated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. KeyCorp reduced their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Craig Hallum cut their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.75.

indie Semiconductor Stock Performance

NASDAQ INDI remained flat at $2.42 during trading hours on Wednesday. The company had a trading volume of 1,489,065 shares, compared to its average volume of 3,719,664. The stock has a market cap of $514.28 million, a price-to-earnings ratio of -3.18 and a beta of 2.01. The firm has a fifty day moving average of $2.13 and a 200-day moving average of $3.38. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $7.82.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate 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 61.59% and a negative return on equity of 28.08%. The company's quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. On average, sell-side analysts anticipate that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,570 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $2.90, for a total transaction of $39,353.00. Following the completion of the sale, the chief operating officer now directly owns 67,012 shares in the company, valued at $194,334.80. This represents a 16.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Donald Mcclymont sold 65,754 shares of indie Semiconductor stock in a transaction on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the completion of the transaction, the chief executive officer now directly owns 246,535 shares in the company, valued at approximately $714,951.50. The trade was a 21.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,277 shares of company stock worth $434,192 over the last 90 days. Corporate insiders own 8.20% of the company's stock.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the business. Kera Capital Partners Inc. bought a new position in indie Semiconductor in the 1st quarter valued at approximately $31,000. National Bank of Canada FI increased its holdings in indie Semiconductor by 32.7% in the 1st quarter. National Bank of Canada FI now owns 17,852 shares of the company's stock worth $36,000 after buying an additional 4,400 shares in the last quarter. Hsbc Holdings PLC raised its position in indie Semiconductor by 36.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,486 shares of the company's stock worth $39,000 after buying an additional 5,213 shares during the last quarter. SlateStone Wealth LLC lifted its stake in 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 acquiring an additional 4,706 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in shares of indie Semiconductor during the 1st quarter valued at about $53,000. Institutional investors own 67.73% of the company's stock.

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.