Brokerages Set indie Semiconductor, Inc. (NASDAQ:INDI) Target Price at $13.50

indie Semiconductor, Inc. (NASDAQ:INDI) has been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.50.

Several research analysts recently weighed in on the stock. Craig Hallum dropped their price objective on shares of 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 cut their price target on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, CJS Securities began coverage on indie Semiconductor in a research report on Friday, December 1st. They issued an “outperform” rating and a $15.00 price objective for the company.

indie Semiconductor Price Performance

indie Semiconductor stock opened at $7.08 on Friday. indie Semiconductor has a 52 week low of $4.67 and a 52 week high of $10.85. The firm has a market cap of $1.30 billion, a P/E ratio of -8.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96. The business’s fifty day moving average is $6.70 and its two-hundred day moving average is $6.66.

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

Insider Buying and Selling

In related news, President Ichiro Aoki sold 50,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the sale, the president now owns 31,208 shares of the company’s stock, valued at approximately $211,278.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, President Ichiro Aoki sold 50,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the sale, the president now owns 31,208 shares of the company’s stock, valued at $211,278.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Schiller sold 60,000 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $7.05, for a total transaction of $423,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,093,562 shares in the company, valued at $7,709,612.10. The disclosure for this sale can be found here. Insiders have sold 171,491 shares of company stock valued at $1,153,936 in the last 90 days. 9.90% of the stock is owned by insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in indie Semiconductor by 3.6% during the 4th quarter. Legal & General Group Plc now owns 31,091 shares of the company’s stock worth $181,000 after acquiring an additional 1,066 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in indie Semiconductor by 7.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,729 shares of the company’s stock valued at $103,000 after purchasing an additional 1,181 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in indie Semiconductor by 4.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 29,888 shares of the company’s stock valued at $315,000 after buying an additional 1,297 shares during the last quarter. Cresset Asset Management LLC lifted its position in indie Semiconductor by 3.3% during the 1st quarter. Cresset Asset Management LLC now owns 42,975 shares of the company’s stock worth $453,000 after buying an additional 1,385 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel boosted its stake in shares of indie Semiconductor by 24.2% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after buying an additional 1,610 shares during the last quarter. Institutional investors and hedge funds 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.