B. Riley Reiterates Buy Rating for indie Semiconductor (NASDAQ:INDI)

indie Semiconductor (NASDAQ:INDI)‘s stock had its “buy” rating reaffirmed by analysts at B. Riley in a research report issued on Friday, Benzinga reports. They presently have a $13.50 target price on the stock, down from their prior target price of $14.50. B. Riley’s price objective suggests a potential upside of 142.81% from the stock’s current price.

INDI has been the topic of a number of other reports. KeyCorp lowered their price target on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Craig Hallum reduced their price target 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. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $13.21.

indie Semiconductor Trading Down 4.0 %

indie Semiconductor stock traded down $0.23 during mid-day trading on Friday, hitting $5.56. The company’s stock had a trading volume of 4,782,732 shares, compared to its average volume of 2,676,154. indie Semiconductor has a one year low of $4.67 and a one year high of $10.85. The stock has a market cap of $1.02 billion, a PE ratio of -6.94 and a beta of 1.21. The company has a 50 day moving average of $6.27 and a 200-day moving average of $6.67. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) 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 analysts’ expectations of $72.69 million. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. On average, research analysts anticipate that indie Semiconductor will post -0.42 EPS for the current year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 8,700 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $6.95, for a total value of $60,465.00. Following the transaction, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at approximately $246,447. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total transaction of $312,500.00. Following the completion of the transaction, the chief executive officer now directly owns 76,750 shares in the company, valued at approximately $479,687.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Wittmann sold 8,700 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.95, for a total value of $60,465.00. Following the sale, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at $246,447. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,323 shares of company stock valued at $1,081,244. Corporate insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of INDI. Nisa Investment Advisors LLC raised its position in indie Semiconductor by 269.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $50,000 after purchasing an additional 4,470 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in indie Semiconductor by 40.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after acquiring an additional 2,000 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in indie Semiconductor in the 1st quarter valued at about $53,000. Psagot Value Holdings Ltd. Israel lifted its position in shares of indie Semiconductor by 24.2% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after purchasing an additional 1,610 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in shares of indie Semiconductor by 66.7% in the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors 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.