indie Semiconductor, Inc. (NASDAQ:INDI) Receives $13.50 Average Price Target from Analysts

indie Semiconductor, Inc. (NASDAQ:INDI) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $13.50.

INDI has been the subject of a number of research reports. KeyCorp decreased their price objective on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Craig Hallum decreased their price target on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 23rd.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the sale, the chief executive officer now owns 76,750 shares in the company, valued at $479,687.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total transaction of $312,500.00. Following the transaction, the chief executive officer now owns 76,750 shares of the company’s stock, valued at $479,687.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Michael Wittmann sold 8,700 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $6.95, for a total value 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. Over the last three months, insiders have sold 113,323 shares of company stock worth $740,444. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of INDI. Psagot Value Holdings Ltd. Israel lifted its stake in shares of indie Semiconductor by 24.2% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after buying an additional 1,610 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of indie Semiconductor by 40.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after purchasing an additional 2,000 shares during the last quarter. Arizona State Retirement System increased its stake in shares of indie Semiconductor by 6.3% during the fourth quarter. Arizona State Retirement System now owns 36,447 shares of the company’s stock worth $296,000 after purchasing an additional 2,167 shares during the period. Daiwa Securities Group Inc. lifted its holdings in indie Semiconductor by 29.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 11,133 shares of the company’s stock worth $90,000 after purchasing an additional 2,558 shares during the last quarter. Finally, Redwood Wealth Management Group LLC boosted its stake in indie Semiconductor by 5.2% in the 3rd quarter. Redwood Wealth Management Group LLC now owns 52,500 shares of the company’s stock valued at $331,000 after purchasing an additional 2,600 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

indie Semiconductor Stock Performance

Shares of INDI opened at $5.21 on Wednesday. The firm has a market cap of $954.58 million, a P/E ratio of -6.13 and a beta of 1.15. indie Semiconductor has a twelve month low of $4.67 and a twelve month high of $10.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96. The firm’s 50 day moving average price is $6.52 and its two-hundred day moving average price is $6.66.

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

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.