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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.50.

INDI has been the topic of a number of analyst reports. Roth Mkm decreased their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. KeyCorp reduced their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. UBS Group started coverage on indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective for the company. Finally, Benchmark reduced 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, February 21st.

Insider Buying and Selling

In other news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at $79,092.81. The trade was a 73.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at approximately $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,512 shares of company stock valued at $469,345. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors have recently added to or reduced their stakes in INDI. National Bank of Canada FI increased its stake in 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 last quarter. ArrowMark Colorado Holdings LLC acquired a new position in indie Semiconductor in the fourth quarter valued at $55,000. Regal Investment Advisors LLC increased its stake in 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 last quarter. Virtu Financial LLC acquired a new position in indie Semiconductor in the third quarter valued at $58,000. Finally, Daiwa Securities Group Inc. grew its position in indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after acquiring an additional 6,363 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

indie Semiconductor Stock Down 0.3 %

indie Semiconductor stock opened at $2.93 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor has a 1-year low of $2.43 and a 1-year high of $7.82. The company has a market cap of $591.61 million, a PE ratio of -3.86 and a beta of 1.54. The stock’s 50 day moving average price is $3.95 and its 200 day moving average price is $4.01.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results 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). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $58.20 million. On average, sell-side analysts predict that indie Semiconductor will post -0.54 EPS for the current fiscal year.

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.