indie Semiconductor (NASDAQ:INDI) Price Target Lowered to $8.00 at Benchmark

indie Semiconductor (NASDAQ:INDI) had its price target decreased by equities research analysts at Benchmark from $9.00 to $8.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 104.60% from the company’s current price.

INDI has been the subject of a number of other reports. UBS Group started coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price target for the company. Roth Mkm reduced their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.14.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $3.91 on Friday. The firm has a market capitalization of $789.51 million, a PE ratio of -5.84 and a beta of 1.41. The stock’s fifty day moving average is $4.18 and its 200 day moving average is $4.10. indie Semiconductor has a fifty-two week low of $3.16 and a fifty-two week high of $7.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. On average, sell-side analysts anticipate that indie Semiconductor will post -0.74 earnings per share for the current year.

Insider Activity

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the transaction, the chief executive officer now owns 18,351 shares in the company, valued at $79,092.81. This trade represents a 73.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,593 shares of company stock worth $330,291. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in indie Semiconductor by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company’s stock valued at $1,069,000 after purchasing an additional 32,979 shares during the last quarter. Two Sigma Investments LP purchased a new position in indie Semiconductor in the fourth quarter valued at about $386,000. ProShare Advisors LLC grew its stake in indie Semiconductor by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock valued at $187,000 after purchasing an additional 15,202 shares during the last quarter. Meros Investment Management LP grew its stake in indie Semiconductor by 43.4% in the fourth quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock valued at $5,026,000 after purchasing an additional 375,624 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in indie Semiconductor by 13.0% in the fourth quarter. Millennium Management LLC now owns 665,236 shares of the company’s stock worth $2,694,000 after acquiring an additional 76,727 shares in the last quarter. Hedge funds and other institutional investors 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.