UBS Group Begins Coverage on indie Semiconductor (NASDAQ:INDI)

Research analysts at UBS Group initiated coverage on shares of indie Semiconductor (NASDAQ:INDI) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $4.50 price target on the stock. UBS Group’s price target would suggest a potential upside of 5.39% from the company’s previous close.

Several other equities analysts also recently issued reports on INDI. Benchmark dropped their price target 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 lowered their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.29.

indie Semiconductor Stock Down 2.1 %

Shares of 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 52 week low of $3.16 and a 52 week high of $7.82. The stock has a market capitalization of $862.20 million, a price-to-earnings ratio of -6.37 and a beta of 1.41. The stock has a fifty day moving average of $4.40 and a 200-day moving average of $4.38.

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

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. The trade was a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,593 shares of company stock worth $1,272,291 over the last quarter. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently bought and sold shares of the stock. Primecap Management Co. CA raised its holdings in shares of indie Semiconductor by 61.4% during 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 period. Artemis Investment Management LLP increased its position in indie Semiconductor by 482.7% in the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after buying an additional 5,417,296 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in indie Semiconductor by 290.6% during 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 period. Harber Asset Management LLC bought a new position in indie Semiconductor in the third quarter worth approximately $3,406,000. Finally, General American Investors Co. Inc. grew its stake in 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 valued at $5,376,000 after acquiring an additional 427,928 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.