indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Rating of “Buy” from Analysts

indie Semiconductor, Inc. (NASDAQ:INDI) has been given an average rating of “Buy” by the seven ratings firms that are covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $10.50.

INDI has been the topic of several research analyst reports. Benchmark reiterated a “buy” rating and set a $12.00 price target on shares of indie Semiconductor in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Roth Mkm cut their price objective on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

indie Semiconductor Stock Up 5.4 %

indie Semiconductor stock opened at $3.49 on Friday. The business has a fifty day moving average price of $3.72 and a 200-day moving average price of $5.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20. indie Semiconductor has a 1-year low of $3.16 and a 1-year high of $8.69. The stock has a market capitalization of $689.00 million, a price-to-earnings ratio of -6.84 and a beta of 1.22.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The firm had revenue of $52.40 million during the quarter, compared to analyst estimates of $53.61 million. During the same period last year, the firm posted ($0.11) EPS. indie Semiconductor’s revenue was up .6% on a year-over-year basis. Equities research analysts forecast that indie Semiconductor will post -0.7 EPS for the current fiscal year.

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the sale, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares during the period. Xponance Inc. acquired a new stake in indie Semiconductor in the 2nd quarter valued at $63,000. Quent Capital LLC increased its holdings in indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after acquiring an additional 4,000 shares in the last quarter. Creative Planning purchased a new stake in indie Semiconductor in the 3rd quarter worth $75,000. Finally, Legato Capital Management LLC acquired a new position in indie Semiconductor during the second quarter worth $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.