indie Semiconductor, Inc. (NASDAQ:INDI) Receives Average Recommendation of “Buy” from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $13.50.

A number of analysts have weighed in on INDI shares. CJS Securities assumed coverage on indie Semiconductor in a research report on Friday, December 1st. They issued an “outperform” rating and a $15.00 price target on the stock. KeyCorp lowered their target price on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, Craig Hallum cut their price target on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 23rd.

indie Semiconductor Stock Up 5.9 %

INDI opened at $6.77 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. The firm’s fifty day moving average price is $6.69 and its two-hundred day moving average price is $6.65. indie Semiconductor has a fifty-two week low of $4.67 and a fifty-two week high of $10.85. The company has a market capitalization of $1.24 billion, a P/E ratio of -7.96 and a beta of 1.14.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. The firm had revenue of $70.13 million during the quarter, compared to analysts’ expectations of $72.69 million. On average, analysts anticipate that indie Semiconductor will post -0.36 EPS for the current year.

Insider Buying and Selling

In other news, CFO Thomas Schiller sold 60,000 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $7.05, for a total transaction of $423,000.00. Following the sale, the chief financial officer now directly owns 1,093,562 shares of the company’s stock, valued at $7,709,612.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now owns 76,750 shares in the company, valued at $479,687.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Schiller sold 60,000 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $7.05, for a total value of $423,000.00. Following the sale, the chief financial officer now directly owns 1,093,562 shares of the company’s stock, valued at $7,709,612.10. The disclosure for this sale can be found here. Insiders have sold a total of 171,491 shares of company stock worth $1,153,936 in the last 90 days. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors have recently modified their holdings of INDI. Granahan Investment Management LLC lifted its holdings in indie Semiconductor by 63.3% in the fourth 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. Bamco Inc. NY raised its position in shares of indie Semiconductor by 88.9% during the 3rd quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock valued at $69,545,000 after acquiring an additional 5,193,775 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of indie Semiconductor by 13.7% in the 4th quarter. Vanguard Group Inc. now owns 10,267,390 shares of the company’s stock valued at $83,269,000 after purchasing an additional 1,239,378 shares during the period. BlackRock Inc. boosted its position in shares of indie Semiconductor by 36.7% in the 2nd quarter. BlackRock Inc. now owns 8,849,734 shares of the company’s stock worth $83,187,000 after purchasing an additional 2,377,645 shares during the last quarter. Finally, State Street Corp grew its stake in shares of indie Semiconductor by 64.2% during the second quarter. State Street Corp now owns 6,943,221 shares of the company’s stock worth $65,266,000 after purchasing an additional 2,715,874 shares during the period. Institutional investors and hedge funds 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.