Brokerages Set indie Semiconductor, Inc. (NASDAQ:INDI) Target Price at $12.64

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given an average recommendation of “Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $12.64.

INDI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. KeyCorp dropped their price target on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, B. Riley reiterated a “buy” rating and set a $13.50 price target (down previously from $14.50) on shares of indie Semiconductor in a research note on Friday, May 10th.

Insider Transactions at indie Semiconductor

In other news, CFO Thomas Schiller sold 60,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $5.68, for a total value of $340,800.00. Following the sale, the chief financial officer now owns 1,039,583 shares in the company, valued at $5,904,831.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other indie Semiconductor news, President Ichiro Aoki sold 50,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $6.14, for a total transaction of $307,000.00. Following the completion of the transaction, the president now owns 36,631 shares of the company’s stock, valued at $224,914.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Schiller sold 60,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $5.68, for a total value of $340,800.00. Following the transaction, the chief financial officer now directly owns 1,039,583 shares of the company’s stock, valued at approximately $5,904,831.44. The disclosure for this sale can be found here. Insiders have sold 401,744 shares of company stock worth $2,589,348 over the last quarter. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently made changes to their positions in the company. Psagot Value Holdings Ltd. Israel increased its holdings in shares of indie Semiconductor by 24.2% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock valued at $69,000 after purchasing an additional 1,610 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings 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. ProShare Advisors LLC increased its holdings in shares of indie Semiconductor by 8.5% in the first quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock valued at $192,000 after purchasing an additional 2,131 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of indie Semiconductor by 6.3% in the fourth quarter. Arizona State Retirement System now owns 36,447 shares of the company’s stock valued at $296,000 after purchasing an additional 2,167 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of indie Semiconductor by 29.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 11,133 shares of the company’s stock valued at $90,000 after purchasing an additional 2,558 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Performance

INDI opened at $6.12 on Monday. The stock has a fifty day moving average price of $6.42 and a 200-day moving average price of $6.70. indie Semiconductor has a 12 month low of $4.67 and a 12 month high of $9.85. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -12.49 and a beta of 1.22. The company has a current ratio of 1.74, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The business had revenue of $52.35 million for the quarter, compared to analyst estimates of $56.30 million. As a group, equities research analysts anticipate that indie Semiconductor will post -0.62 earnings per share for the current fiscal year.

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.