indie Semiconductor (NASDAQ:INDI) Research Coverage Started at UBS Group

UBS Group initiated coverage on shares of indie Semiconductor (NASDAQ:INDI) in a report published on Friday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $4.50 target price on the stock.

A number of other research firms also recently weighed in on INDI. Benchmark dropped their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Roth Mkm reduced their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.29.

indie Semiconductor Stock Down 2.1 %

NASDAQ:INDI opened at $4.27 on Friday. 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. The stock has a 50-day simple moving average of $4.40 and a 200 day simple moving average of $4.37. The company has a market capitalization of $862.20 million, a price-to-earnings ratio of -6.37 and a beta of 1.41.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, November 7th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The business had revenue of $53.97 million during the quarter, compared to analyst estimates of $53.65 million. indie Semiconductor had a negative net margin of 49.88% and a negative return on equity of 24.04%. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Sell-side analysts predict that indie Semiconductor will post -0.74 EPS for the current fiscal year.

Insider Activity

In related news, COO Michael Wittmann sold 18,375 shares of the business’s 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 completion of the transaction, the chief operating officer now owns 28,860 shares of the company’s stock, 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 through this link. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 18,351 shares in the company, valued at $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,593 shares of company stock worth $1,272,291 in the last quarter. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of hedge funds have recently made changes to their positions in INDI. Virtu Financial LLC bought a new position in indie Semiconductor in the third quarter worth approximately $58,000. Xponance Inc. bought a new stake in shares of indie Semiconductor in the 2nd quarter worth approximately $63,000. FNY Investment Advisers LLC bought a new position in indie Semiconductor during the fourth quarter valued at $74,000. Creative Planning purchased a new stake in indie Semiconductor in the 3rd quarter worth about $75,000. Finally, Algert Global LLC bought a new stake in shares of indie Semiconductor in the second quarter valued at approximately $97,000. 67.73% of the stock is currently owned by institutional investors.

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.