indie Semiconductor (NASDAQ:INDI) Price Target Cut to $7.00 by Analysts at KeyCorp

indie Semiconductor (NASDAQ:INDI) had its price target trimmed by KeyCorp from $8.00 to $7.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group initiated coverage on indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. Benchmark reduced their price target on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Roth Mkm reduced their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, indie Semiconductor has a consensus rating of “Moderate Buy” and an average target price of $7.86.

indie Semiconductor Price Performance

Shares of INDI stock opened at $3.41 on Friday. The firm’s 50 day moving average price is $4.16 and its 200-day moving average price is $4.09. 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 has a one year low of $3.16 and a one year high of $7.82.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The company had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. On average, research analysts forecast that indie Semiconductor will post -0.54 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI raised its position in shares of indie Semiconductor by 42.7% during the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock worth $54,000 after acquiring an additional 4,023 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in shares of indie Semiconductor during the 4th quarter worth about $55,000. Regal Investment Advisors LLC raised its holdings in indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock worth $57,000 after purchasing an additional 3,988 shares in the last quarter. Virtu Financial LLC acquired a new stake in indie Semiconductor during the third quarter worth approximately $58,000. Finally, Daiwa Securities Group Inc. raised its holdings in indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock worth $60,000 after purchasing an additional 6,363 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.