Benchmark Lowers indie Semiconductor (NASDAQ:INDI) Price Target to $8.00

indie Semiconductor (NASDAQ:INDI) had its target price lowered by analysts at Benchmark from $9.00 to $8.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 134.60% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. UBS Group assumed coverage on indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. Roth Mkm dropped their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.86.

indie Semiconductor Trading Down 12.8 %

Shares of INDI opened at $3.41 on Friday. The stock’s 50-day moving average is $4.16 and its two-hundred day moving average is $4.08. The stock has a market cap of $688.55 million, a PE ratio of -4.49 and a beta of 1.41. indie Semiconductor has a 12 month low of $3.16 and a 12 month high of $7.82. 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 (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS 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 analyst estimates of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. Equities analysts forecast that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of the business’s 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,593 shares of company stock valued at $330,291. 8.20% of the stock is currently owned by insiders.

Institutional Trading of indie Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI increased its holdings 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 buying an additional 4,023 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new stake in indie Semiconductor in the fourth quarter valued at about $55,000. Regal Investment Advisors LLC grew its holdings in shares of indie Semiconductor by 39.2% during 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 bought a new position in shares of indie Semiconductor during the third quarter valued at approximately $58,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of 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 purchasing an additional 6,363 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

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.