Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) PT at $9.79

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received a consensus rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.92.

Several research firms recently weighed in on INDI. Roth Mkm decreased their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Benchmark dropped their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $5.23 on Thursday. The stock has a market cap of $1.06 billion, a P/E ratio of -7.81 and a beta of 1.22. 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 business’s 50-day moving average price is $4.03 and its two-hundred day moving average price is $5.05. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $8.69.

Insider Transactions at indie Semiconductor

In other news, CEO Donald Mcclymont sold 200,000 shares of the firm’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 approximately $86,433.21. This trade represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the transaction, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 281,612 shares of company stock worth $1,259,860. 8.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA lifted its position in indie Semiconductor by 61.4% in 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 last quarter. Harbor Capital Advisors Inc. increased its stake in shares of indie Semiconductor by 290.6% in the third 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. Artemis Investment Management LLP purchased a new position in shares of indie Semiconductor in the third quarter worth $4,478,000. Harber Asset Management LLC bought a new stake in indie Semiconductor during the 3rd quarter valued at $3,406,000. Finally, General American Investors Co. Inc. boosted its position in indie Semiconductor by 46.5% during the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock valued at $5,376,000 after buying an additional 427,928 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.