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

indie Semiconductor (NASDAQ:INDI) had its price target cut by Craig Hallum from $8.00 to $6.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

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

indie Semiconductor Trading Up 1.5%

Shares of INDI opened at $2.68 on Tuesday. The stock has a fifty day moving average of $2.12 and a two-hundred day moving average of $3.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The company has a market capitalization of $558.76 million, a PE ratio of -3.53 and a beta of 2.01. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $7.82.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, analysts forecast that indie Semiconductor will post -0.54 EPS for the current year.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the completion of the transaction, the chief executive officer now directly owns 246,535 shares of the company’s stock, valued at $714,951.50. This represents a 21.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael Wittmann sold 10,875 shares of the company’s stock in a transaction dated 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 approximately $218,862.47. The trade was a 12.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,277 shares of company stock valued at $434,192. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Regal Investment Advisors LLC boosted its position in indie Semiconductor by 39.2% in the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock valued at $57,000 after buying an additional 3,988 shares during the last quarter. National Bank of Canada FI boosted its position in indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock valued at $54,000 after buying an additional 4,023 shares during the last quarter. Rhumbline Advisers boosted its position in indie Semiconductor by 1.8% in the 4th quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock valued at $968,000 after buying an additional 4,156 shares during the last quarter. SlateStone Wealth LLC boosted its position in indie Semiconductor by 27.1% in the 1st 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 last quarter. Finally, Invesco Ltd. raised its stake in shares of indie Semiconductor by 5.5% in the 4th quarter. Invesco Ltd. now owns 93,328 shares of the company’s stock valued at $378,000 after purchasing an additional 4,879 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.