Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) Price Target at $7.50

indie Semiconductor, Inc. (NASDAQ:INDI) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.50.

INDI has been the topic of a number of research reports. UBS Group initiated coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. Benchmark dropped their target price on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, KeyCorp lowered their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st.

indie Semiconductor Trading Down 6.5 %

NASDAQ:INDI opened at $2.74 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. indie Semiconductor has a 52 week low of $2.43 and a 52 week high of $7.82. The firm’s fifty day moving average is $3.89 and its 200-day moving average is $3.99. The firm has a market cap of $553.25 million, a P/E ratio of -3.61 and a beta of 1.54.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) 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 company had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. Equities analysts expect that indie Semiconductor will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Michael Wittmann sold 18,375 shares of the company’s stock in a transaction on 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 owns 28,860 shares in the company, valued at $118,326. This represents a 38.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the completion of the sale, the chief executive officer now owns 65,932 shares of the company’s stock, valued at approximately $205,707.84. The trade was a 43.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,789 shares of company stock worth $747,537. Insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

Several institutional investors have recently made changes to their positions in the company. Regal Investment Advisors LLC grew its stake in shares of indie Semiconductor by 39.2% in the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock worth $57,000 after acquiring an additional 3,988 shares in the last quarter. National Bank of Canada FI grew its position in indie Semiconductor by 42.7% during 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 period. Rhumbline Advisers grew its position in indie Semiconductor by 1.8% during the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock valued at $968,000 after buying an additional 4,156 shares during the period. Invesco Ltd. grew its position in indie Semiconductor by 5.5% during the fourth quarter. Invesco Ltd. now owns 93,328 shares of the company’s stock valued at $378,000 after buying an additional 4,879 shares during the period. Finally, American Trust grew its position in indie Semiconductor by 20.3% during the fourth quarter. American Trust now owns 34,845 shares of the company’s stock valued at $141,000 after buying an additional 5,869 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.