indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

indie Semiconductor, Inc. (NASDAQ:INDI) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.08.

Several analysts have commented on INDI shares. B. Riley restated a “buy” rating on shares of indie Semiconductor in a report on Thursday, April 24th. Benchmark reiterated a “buy” rating and set a $8.00 price target (up previously from $6.00) on shares of indie Semiconductor in a research report on Wednesday, June 25th. Craig Hallum reduced their price target on indie Semiconductor from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, KeyCorp dropped their price objective on indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th.

Insider Buying and Selling at indie Semiconductor

In other news, Director Sonalee Elizabeth Parekh sold 11,841 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $3.42, for a total value of $40,496.22. Following the completion of the sale, the director directly owned 119,857 shares in the company, valued at $409,910.94. The trade was a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Wittmann sold 13,725 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total value of $35,547.75. Following the completion of the sale, the chief operating officer owned 101,662 shares in the company, valued at $263,304.58. This represents a 11.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,823 shares of company stock worth $128,088 in the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds have recently bought and sold shares of the business. Signaturefd LLC lifted its stake in indie Semiconductor by 145.7% in the 2nd quarter. Signaturefd LLC now owns 11,457 shares of the company’s stock valued at $41,000 after purchasing an additional 6,794 shares during the last quarter. National Bank of Canada FI grew its stake 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 acquiring an additional 4,023 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in shares of indie Semiconductor in the 4th quarter valued at $55,000. Regal Investment Advisors LLC raised its holdings in 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 purchasing an additional 3,988 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in indie Semiconductor by 74.6% during the 4th 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 and hedge funds.

indie Semiconductor Stock Performance

Shares of INDI opened at $4.92 on Friday. indie Semiconductor has a 52 week low of $1.53 and a 52 week high of $7.12. The company has a quick ratio of 4.64, a current ratio of 5.30 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $3.20 and a two-hundred day simple moving average of $3.09. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -6.56 and a beta of 2.20.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $54.08 million for the quarter, compared to analyst estimates of $54.94 million. indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. indie Semiconductor’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. On average, analysts expect that indie Semiconductor will post -0.54 EPS for the current year.

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.