indie Semiconductor’s (INDI) “Buy” Rating Reaffirmed at Benchmark

indie Semiconductor (NASDAQ:INDI)‘s stock had its “buy” rating reaffirmed by analysts at Benchmark in a report issued on Wednesday,Benzinga reports. They currently have a $6.00 price target on the stock. Benchmark’s target price suggests a potential upside of 138.10% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Craig Hallum dropped their price target on shares of indie Semiconductor from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. B. Riley restated a “buy” rating on shares of indie Semiconductor in a research report on Thursday, April 24th. UBS Group started coverage on indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective for the company. Finally, KeyCorp cut their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.75.

indie Semiconductor Trading Down 4.5%

NASDAQ INDI opened at $2.52 on Wednesday. The business’s 50-day moving average price is $2.13 and its two-hundred day moving average price is $3.40. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. indie Semiconductor has a 12 month low of $1.53 and a 12 month high of $7.82. The firm has a market capitalization of $535.54 million, a PE ratio of -3.32 and a beta of 2.01.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting 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 quarter in the previous year, the company earned ($0.10) EPS. indie Semiconductor’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts expect that indie Semiconductor will post -0.54 EPS for the current year.

Insider Buying and Selling at indie Semiconductor

In other news, COO Michael Wittmann sold 10,875 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 of the company’s stock, valued at $218,862.47. The trade was a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 65,754 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $190,686.60. Following the completion of the sale, the chief executive officer now owns 246,535 shares in the company, valued at $714,951.50. This represents a 21.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,277 shares of company stock worth $434,192. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Regal Investment Advisors LLC increased its position in indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock valued at $57,000 after acquiring an additional 3,988 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock worth $54,000 after purchasing an additional 4,023 shares during the period. Rhumbline Advisers boosted its holdings in shares of indie Semiconductor by 1.8% in the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock worth $968,000 after buying an additional 4,156 shares during the last quarter. SlateStone Wealth LLC grew its position in indie Semiconductor by 27.1% during the first quarter. SlateStone Wealth LLC now owns 22,100 shares of the company’s stock valued at $45,000 after buying an additional 4,706 shares during the period. Finally, Invesco Ltd. increased its holdings in indie Semiconductor by 5.5% during the fourth quarter. Invesco Ltd. now owns 93,328 shares of the company’s stock valued at $378,000 after buying an additional 4,879 shares during the last quarter. 67.73% of the stock is owned by 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.