indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Rating of “Buy” by Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $13.50.

INDI has been the subject of several recent analyst reports. Craig Hallum dropped their price objective on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. KeyCorp dropped their target price on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd.

Insider Activity

In other news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the sale, the chief executive officer now owns 76,750 shares of the company’s stock, valued at $479,687.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total transaction of $312,500.00. Following the completion of the sale, the chief executive officer now owns 76,750 shares of the company’s stock, valued at $479,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Wittmann sold 8,700 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.95, for a total value of $60,465.00. Following the sale, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at approximately $246,447. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,491 shares of company stock valued at $730,936. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in indie Semiconductor by 176.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 981,828 shares of the company’s stock worth $6,186,000 after acquiring an additional 626,504 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of indie Semiconductor by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,028,012 shares of the company’s stock valued at $56,876,000 after purchasing an additional 763,140 shares in the last quarter. Moody National Bank Trust Division bought a new position in shares of indie Semiconductor in the fourth quarter valued at approximately $2,223,000. Barclays PLC lifted its holdings in shares of indie Semiconductor by 574.0% in the third quarter. Barclays PLC now owns 330,008 shares of the company’s stock valued at $2,078,000 after purchasing an additional 281,043 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of indie Semiconductor by 55.7% in the third quarter. Mutual of America Capital Management LLC now owns 357,586 shares of the company’s stock valued at $2,253,000 after purchasing an additional 127,940 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Price Performance

Shares of INDI stock opened at $5.85 on Wednesday. The company has a quick ratio of 1.72, a current ratio of 1.96 and a debt-to-equity ratio of 0.33. indie Semiconductor has a twelve month low of $4.67 and a twelve month high of $10.85. The company has a market cap of $1.07 billion, a P/E ratio of -6.88 and a beta of 1.15. The business has a fifty day simple moving average of $6.69 and a 200 day simple moving average of $6.67.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. The business had revenue of $70.13 million during the quarter, compared to the consensus estimate of $72.69 million. On average, sell-side analysts forecast that indie Semiconductor will post -0.42 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.