indie Semiconductor, Inc. (NASDAQ:INDI) Given Consensus Recommendation of “Buy” by Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI) has received an average recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.50.

A number of brokerages recently weighed in on INDI. CJS Securities started coverage on shares of indie Semiconductor in a research note on Friday, December 1st. They set an “outperform” rating and a $15.00 price target for the company. Craig Hallum lowered their price target on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Finally, KeyCorp dropped their price target on indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd.

indie Semiconductor Stock Performance

NASDAQ INDI opened at $7.08 on Friday. The company has a fifty day moving average of $6.70 and a two-hundred day moving average of $6.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. indie Semiconductor has a 1 year low of $4.67 and a 1 year high of $10.85. The company has a market capitalization of $1.30 billion, a PE ratio of -8.33 and a beta of 1.14.

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

Insider Activity

In other indie Semiconductor news, CFO Thomas Schiller sold 60,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $7.05, for a total value of $423,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,093,562 shares of the company’s stock, valued at $7,709,612.10. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, COO Michael Wittmann sold 8,700 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $6.95, for a total transaction of $60,465.00. Following the sale, the chief operating officer now owns 35,460 shares of the company’s stock, valued at $246,447. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Schiller sold 60,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 1,093,562 shares of the company’s stock, valued at approximately $7,709,612.10. The disclosure for this sale can be found here. Insiders sold 171,491 shares of company stock worth $1,153,936 in the last 90 days. 9.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently modified their holdings of the company. UBS Group AG raised its holdings in indie Semiconductor by 384.8% in the 3rd quarter. UBS Group AG now owns 3,849 shares of the company’s stock valued at $29,000 after acquiring an additional 3,055 shares during the last quarter. LifePro Asset Management purchased a new position in indie Semiconductor during the third quarter worth about $43,000. Point72 Middle East FZE acquired a new stake in indie Semiconductor in the 4th quarter worth about $28,000. Nisa Investment Advisors LLC grew its holdings in indie Semiconductor by 269.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $50,000 after buying an additional 4,470 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of indie Semiconductor by 40.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.