Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) Price Target at $10.50

indie Semiconductor, Inc. (NASDAQ:INDI) has earned an average rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $9.79.

INDI has been the topic of a number of research analyst reports. Benchmark dropped their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Roth Mkm reduced their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Insiders Place Their Bets

In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the transaction, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after acquiring an additional 3,906 shares during the last quarter. Quent Capital LLC increased its stake in shares of indie Semiconductor by 66.7% in the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after buying an additional 4,000 shares during the period. Xponance Inc. bought a new position in shares of indie Semiconductor during the second quarter worth about $63,000. Legato Capital Management LLC bought a new stake in indie Semiconductor in the second quarter valued at approximately $76,000. Finally, SlateStone Wealth LLC acquired a new stake in indie Semiconductor during the 2nd quarter valued at approximately $82,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Up 59.8 %

Shares of indie Semiconductor stock opened at $5.48 on Friday. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $8.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20. The company has a market capitalization of $1.08 billion, a P/E ratio of -10.75 and a beta of 1.22. The business has a 50-day moving average of $3.70 and a two-hundred day moving average of $5.14.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The firm had revenue of $52.40 million for the quarter, compared to the consensus estimate of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted ($0.11) EPS. As a group, equities analysts predict that indie Semiconductor will post -0.7 EPS for the current 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.