Deutsche Bank Aktiengesellschaft Cuts indie Semiconductor (NASDAQ:INDI) Price Target to $9.00

indie Semiconductor (NASDAQ:INDI - Get Free Report) had its target price cut by analysts at Deutsche Bank Aktiengesellschaft from $10.00 to $9.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's target price indicates a potential upside of 56.25% from the company's previous close.

Several other brokerages have also recently issued reports on INDI. B. Riley reiterated a "buy" rating and issued a $13.50 price objective (down from $14.50) on shares of indie Semiconductor in a research note on Friday. KeyCorp decreased their price objective on indie Semiconductor from $10.00 to $9.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Craig Hallum cut their target price on shares of indie Semiconductor from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $12.64.

indie Semiconductor Trading Down 0.5 %

INDI traded down $0.03 during mid-day trading on Friday, hitting $5.76. 7,682,281 shares of the stock were exchanged, compared to its average volume of 2,711,462. The firm's fifty day moving average is $6.27 and its two-hundred day moving average is $6.67. indie Semiconductor has a 1-year low of $4.67 and a 1-year high of $10.85. The company has a market cap of $1.06 billion, a PE ratio of -6.48 and a beta of 1.21. The company has a current ratio of 1.96, a quick ratio of 1.72 and a debt-to-equity ratio of 0.33.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. The business had revenue of $70.13 million for the quarter, compared to analysts' expectations of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. Equities analysts forecast that indie Semiconductor will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $6.77, for a total value of $338,500.00. Following the completion of the sale, the president now owns 31,208 shares in the company, valued at $211,278.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of indie Semiconductor stock in a transaction on Monday, March 4th. The shares were sold at an average price of $6.77, for a total value of $338,500.00. Following the transaction, the president now directly owns 31,208 shares in the company, valued at $211,278.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Wittmann sold 8,700 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $6.95, for a total transaction of $60,465.00. Following the completion of the sale, the chief operating officer now directly owns 35,460 shares of the company's stock, valued at $246,447. The disclosure for this sale can be found here. Insiders sold 173,323 shares of company stock worth $1,081,244 over the last 90 days. Corporate insiders own 9.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INDI. ProShare Advisors LLC lifted its holdings in shares of indie Semiconductor by 8.5% during the first quarter. ProShare Advisors LLC now owns 27,071 shares of the company's stock worth $192,000 after purchasing an additional 2,131 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of indie Semiconductor in the 1st quarter worth $1,471,000. Sei Investments Co. boosted its holdings in shares of indie Semiconductor by 62.7% in the first quarter. Sei Investments Co. now owns 124,862 shares of the company's stock valued at $884,000 after acquiring an additional 48,115 shares in the last quarter. Swiss National Bank increased its stake in shares of indie Semiconductor by 5.4% during the first quarter. Swiss National Bank now owns 270,800 shares of the company's stock worth $1,917,000 after acquiring an additional 13,800 shares during the period. Finally, Zevenbergen Capital Investments LLC purchased a new position in indie Semiconductor during the first quarter worth about $524,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.