indie Semiconductor, Inc. (NASDAQ:INDI) Receives $8.92 Average Target Price from Brokerages

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have earned a consensus rating of “Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.92.

A number of brokerages have weighed in on INDI. Roth Mkm decreased 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. Benchmark reduced 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 report on Tuesday, November 5th.

indie Semiconductor Stock Up 3.4 %

INDI stock opened at $4.24 on Monday. The stock has a market capitalization of $856.12 million, a P/E ratio of -6.33 and a beta of 1.37. 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 $3.16 and a 1-year high of $8.63. The business has a fifty day moving average price of $4.21 and a 200-day moving average price of $4.73.

Insider Buying and Selling

In other news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the transaction, the chief executive officer now owns 18,351 shares in the company, valued at $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 253,081 shares of company stock worth $1,174,446. 8.20% of the stock is owned by corporate insiders.

Institutional Trading of indie Semiconductor

A number of large investors have recently added to or reduced their stakes in the company. Xponance Inc. purchased a new position in indie Semiconductor in the second quarter worth about $63,000. Legato Capital Management LLC purchased a new position in shares of indie Semiconductor in the 2nd quarter worth approximately $76,000. SlateStone Wealth LLC bought a new position in shares of indie Semiconductor during the 2nd quarter valued at approximately $82,000. Virtu Financial LLC purchased a new stake in indie Semiconductor during the 3rd quarter valued at $58,000. Finally, Algert Global LLC bought a new stake in indie Semiconductor in the second quarter worth $97,000. Institutional investors own 67.73% of the company’s stock.

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.