KeyCorp Cuts indie Semiconductor (NASDAQ:INDI) Price Target to $7.00

indie Semiconductor (NASDAQ:INDI) had its price target decreased by KeyCorp from $8.00 to $7.00 in a research note issued to investors on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

INDI has been the subject of a number of other research reports. Roth Mkm reduced their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 8th. Benchmark cut their price objective on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday. Finally, UBS Group initiated coverage on indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

indie Semiconductor Trading Down 12.8 %

INDI opened at $3.41 on Friday. indie Semiconductor has a 52 week low of $3.16 and a 52 week high of $7.82. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The stock has a market cap of $688.55 million, a PE ratio of -4.49 and a beta of 1.41. The business has a 50 day moving average of $4.16 and a 200-day moving average of $4.08.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company had revenue of $58.01 million for the quarter, compared to the consensus estimate of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. Equities research analysts predict that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the sale, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $79,092.81. The trade was a 73.15 % 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 indie Semiconductor 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 in the company, valued at $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,593 shares of company stock worth $330,291 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INDI. National Bank of Canada FI boosted its holdings in shares of indie Semiconductor by 42.7% in the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock valued at $54,000 after purchasing an additional 4,023 shares during the period. ArrowMark Colorado Holdings LLC purchased a new stake in shares of indie Semiconductor in the fourth quarter valued at approximately $55,000. Regal Investment Advisors LLC boosted its holdings in shares of indie Semiconductor by 39.2% in the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock valued at $57,000 after purchasing an additional 3,988 shares during the period. Virtu Financial LLC purchased a new stake in shares of indie Semiconductor in the third quarter valued at approximately $58,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of indie Semiconductor by 74.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after purchasing an additional 6,363 shares during the period. 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.