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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.92.

A number of equities analysts recently commented on the stock. 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 note on Tuesday, November 5th. Roth Mkm cut 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.

Insiders Place Their Bets

In related news, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $86,433.21. This represents a 91.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Michael Wittmann sold 18,375 shares of the firm’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 sale, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at approximately $118,326. This represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,593 shares of company stock valued at $1,272,291. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of INDI. General American Investors Co. Inc. raised its holdings in shares of indie Semiconductor by 46.5% in the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after buying an additional 427,928 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in indie Semiconductor by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock worth $5,260,000 after acquiring an additional 120,071 shares during the last quarter. State Street Corp lifted its position in indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after acquiring an additional 161,132 shares during the period. Geode Capital Management LLC grew its stake in indie Semiconductor by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after purchasing an additional 276,739 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of indie Semiconductor by 330.7% in the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock valued at $1,026,000 after purchasing an additional 197,179 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Trading Down 2.0 %

NASDAQ:INDI opened at $4.31 on Friday. The firm has a 50-day simple moving average of $4.44 and a 200-day simple moving average of $4.48. indie Semiconductor has a one year low of $3.16 and a one year high of $7.82. The firm has a market cap of $870.28 million, a P/E ratio of -6.43 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

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.