indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Rating of “Buy” by Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.79.

INDI has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. 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. Finally, Roth Mkm cut their price objective 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.

indie Semiconductor Stock Up 0.6 %

NASDAQ:INDI opened at $5.03 on Thursday. The firm has a market capitalization of $1.02 billion, a PE ratio of -7.51 and a beta of 1.22. indie Semiconductor has a 52 week low of $3.16 and a 52 week high of $8.69. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $3.95 and a 200-day moving average of $5.05.

Insiders Place Their Bets

In other news, CFO Thomas Schiller sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. This trade represents a 7.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Donald Mcclymont sold 200,000 shares of indie Semiconductor stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at $86,433.21. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 278,531 shares of company stock worth $1,242,915 over the last ninety days. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INDI. Primecap Management Co. CA boosted its stake in indie Semiconductor by 61.4% in the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after purchasing an additional 9,689,326 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after buying an additional 2,377,612 shares during the period. Artemis Investment Management LLP acquired a new position in indie Semiconductor during the third quarter valued at $4,478,000. Harber Asset Management LLC purchased a new stake in indie Semiconductor in the 3rd quarter worth about $3,406,000. Finally, General American Investors Co. Inc. boosted its position in indie Semiconductor by 46.5% during the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after acquiring an additional 427,928 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.