Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) Price Target at $8.92

indie Semiconductor, Inc. (NASDAQ:INDI) has been given a consensus rating of “Buy” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $8.92.

Several equities research analysts have recently weighed in on INDI shares. Roth Mkm reduced their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark cut their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the transaction, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 253,081 shares of company stock valued at $1,174,446 over the last quarter. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

indie Semiconductor Stock Performance

indie Semiconductor stock opened at $4.24 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The firm has a market capitalization of $856.12 million, a P/E ratio of -6.33 and a beta of 1.37. indie Semiconductor has a 1-year low of $3.16 and a 1-year high of $8.63. The company’s 50-day moving average is $4.21 and its 200 day moving average is $4.73.

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.