indie Semiconductor (NASDAQ:INDI) Stock Rating Upgraded by Zacks Investment Research

indie Semiconductor (NASDAQ:INDI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “indie Semiconductor provides automotive semiconductors and software platforms. It focus on edge sensors for Advanced Driver Assistance Systems including LiDAR, connected car, user experience and electrification applications. indie Semiconductor, formerly known as Thunder Bridge Acquisition II Ltd., is based in Virginia, United States. “

A number of other research analysts have also commented on INDI. Deutsche Bank Aktiengesellschaft initiated coverage on indie Semiconductor in a research report on Friday, July 23rd. They issued a “buy” rating and a $14.00 price objective on the stock. Craig Hallum began coverage on indie Semiconductor in a research note on Monday, July 12th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, B. Riley began coverage on indie Semiconductor in a report on Tuesday, August 24th. They issued a “buy” rating and a $18.00 price objective for the company.

NASDAQ INDI opened at $11.30 on Tuesday. indie Semiconductor has a twelve month low of $8.00 and a twelve month high of $12.70. The firm has a market cap of $1.47 billion, a PE ratio of -75.33 and a beta of -0.03. The business’s 50-day simple moving average is $10.57.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Tuesday, August 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.23). The firm had revenue of $9.18 million during the quarter, compared to analyst estimates of $8.97 million. As a group, equities analysts anticipate that indie Semiconductor will post -0.47 EPS for the current year.

Several large investors have recently made changes to their positions in INDI. Bamco Inc. NY bought a new stake in shares of indie Semiconductor in the second quarter worth $17,182,000. Luxor Capital Group LP acquired a new stake in shares of indie Semiconductor in the 2nd quarter worth about $9,775,000. Millennium Management LLC acquired a new stake in shares of indie Semiconductor in the 2nd quarter worth about $7,131,000. Hood River Capital Management LLC acquired a new stake in shares of indie Semiconductor in the 2nd quarter worth about $7,204,000. Finally, Linden Advisors LP purchased a new stake in indie Semiconductor in the 2nd quarter valued at about $4,940,000. Institutional investors own 13.82% of the company’s stock.

About indie Semiconductor

indie Semiconductor, a fabless semiconductor company, designs and manufactures custom mixed-signal microcontrollers for automotive, medical, industrial, and consumer applications. The company offers custom solutions, standard products, and building blocks. It also integrates analog sub-systems, such as RF transceivers, power management circuitry, and sensor interfaces.

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