Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) PT at $9.79

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.92.

INDI has been the topic of a number of analyst reports. 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 report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Benchmark reduced their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at $86,433.21. The trade was a 91.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 281,612 shares of company stock worth $1,259,860 over the last ninety days. 8.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in indie Semiconductor by 1,743.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after purchasing an additional 3,906 shares during the period. Virtu Financial LLC bought a new position in shares of indie Semiconductor in the third quarter valued at approximately $58,000. Xponance Inc. purchased a new position in indie Semiconductor during the second quarter valued at approximately $63,000. Creative Planning purchased a new position in indie Semiconductor during the third quarter valued at approximately $75,000. Finally, Legato Capital Management LLC bought a new stake in indie Semiconductor during the 2nd quarter worth approximately $76,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Stock Up 4.0 %

Shares of NASDAQ:INDI opened at $5.23 on Thursday. The business’s 50 day moving average is $4.03 and its 200 day moving average is $5.05. indie Semiconductor has a 12-month low of $3.16 and a 12-month high of $8.69. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -7.81 and a beta of 1.22. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

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.