indie Semiconductor (NASDAQ:INDI) Price Target Lowered to $6.00 at Benchmark

indie Semiconductor (NASDAQ:INDI) had its target price reduced by Benchmark from $8.00 to $6.00 in a report released on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

INDI has been the topic of a number of other reports. UBS Group started coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 price target on the stock. B. Riley restated a “buy” rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Finally, KeyCorp dropped their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.75.

indie Semiconductor Trading Up 1.5%

Shares of NASDAQ:INDI opened at $2.68 on Tuesday. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $7.82. The company has a market cap of $558.76 million, a PE ratio of -3.53 and a beta of 2.01. The company’s 50-day moving average price is $2.12 and its 200 day moving average price is $3.43. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($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 $54.08 million for the quarter, compared to the consensus estimate of $54.94 million. During the same period in the previous year, the firm earned ($0.10) EPS. indie Semiconductor’s revenue was up 3.2% on a year-over-year basis. Sell-side analysts anticipate that indie Semiconductor will post -0.54 earnings per share for the current year.

Insider Transactions at indie Semiconductor

In other news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $3.12, for a total value of $156,000.00. Following the transaction, the chief executive officer now directly owns 65,932 shares of the company’s stock, valued at $205,707.84. This trade represents a 43.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Wittmann sold 10,875 shares of indie Semiconductor stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $2.81, for a total transaction of $30,558.75. Following the completion of the transaction, the chief operating officer now directly owns 77,887 shares in the company, valued at approximately $218,862.47. This trade represents a 12.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,277 shares of company stock valued at $434,192 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Barclays PLC increased its position in shares of indie Semiconductor by 330.7% in the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after acquiring an additional 197,179 shares in the last quarter. Elemental Capital Partners LLC purchased a new position in shares of indie Semiconductor in the fourth quarter worth approximately $14,272,000. Charles Schwab Investment Management Inc. grew its position in indie Semiconductor by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company’s stock valued at $5,796,000 after purchasing an additional 112,793 shares in the last quarter. Vanguard Group Inc. grew its position in indie Semiconductor by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company’s stock valued at $50,970,000 after purchasing an additional 942,088 shares in the last quarter. Finally, Register Financial Advisors LLC grew its position in indie Semiconductor by 60.4% during the fourth quarter. Register Financial Advisors LLC now owns 337,028 shares of the company’s stock valued at $1,365,000 after purchasing an additional 126,888 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.