indie Semiconductor (NASDAQ:INDI) Rating Reiterated by B. Riley

indie Semiconductor (NASDAQ:INDI - Get Free Report)'s stock had its "buy" rating restated by equities researchers at B. Riley in a report issued on Friday, Benzinga reports. They currently have a $13.50 price target on the stock, down from their previous price target of $14.50. B. Riley's price target indicates a potential upside of 134.38% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. KeyCorp reduced their price target on shares of indie Semiconductor from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, February 23rd. Craig Hallum decreased their price target on 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 analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor has a consensus rating of "Buy" and an average price target of $12.64.

indie Semiconductor Price Performance

NASDAQ INDI traded down $0.03 during mid-day trading on Friday, hitting $5.76. The stock had a trading volume of 7,682,301 shares, compared to its average volume of 2,711,462. The firm's 50 day moving average is $6.27 and its 200 day moving average is $6.67. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. indie Semiconductor has a twelve month low of $4.67 and a twelve month high of $10.85.

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

Insider Buying and Selling

In other indie Semiconductor news, CFO Thomas Schiller sold 60,000 shares of indie Semiconductor stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $5.68, for a total transaction of $340,800.00. Following the completion of the sale, the chief financial officer now directly owns 1,039,583 shares of the company's stock, valued at approximately $5,904,831.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other indie Semiconductor news, COO Michael Wittmann sold 8,700 shares of indie Semiconductor stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.95, for a total transaction of $60,465.00. Following the transaction, the chief operating officer now owns 35,460 shares of the company's stock, valued at $246,447. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas Schiller sold 60,000 shares of the company's stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $5.68, for a total transaction of $340,800.00. Following the completion of the sale, the chief financial officer now owns 1,039,583 shares of the company's stock, valued at approximately $5,904,831.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,323 shares of company stock worth $1,081,244. Corporate insiders own 9.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bamco Inc. NY grew its holdings in shares of indie Semiconductor by 88.9% during the third quarter. Bamco Inc. NY now owns 11,038,885 shares of the company's stock worth $69,545,000 after buying an additional 5,193,775 shares during the last quarter. Granahan Investment Management LLC increased its stake in indie Semiconductor by 63.3% in the 4th quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company's stock valued at $107,008,000 after buying an additional 5,115,393 shares during the period. Intrinsic Edge Capital Management LLC raised its position in indie Semiconductor by 132.5% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company's stock worth $23,466,000 after buying an additional 1,648,818 shares during the last quarter. UBS Group AG lifted its stake in shares of indie Semiconductor by 4,346.7% in the 4th quarter. UBS Group AG now owns 1,484,697 shares of the company's stock worth $12,041,000 after acquiring an additional 1,451,308 shares during the period. Finally, Primecap Management Co. CA increased its stake in shares of indie Semiconductor by 39.0% during the third quarter. Primecap Management Co. CA now owns 4,193,300 shares of the company's stock worth $26,418,000 after acquiring an additional 1,175,600 shares during the period. 67.73% of the stock is 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.