indie Semiconductor (NASDAQ:INDI) Price Target Cut to $7.00

indie Semiconductor (NASDAQ:INDI) had its price target cut by equities researchers at Deutsche Bank Aktiengesellschaft from $9.00 to $7.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 58.37% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Roth Mkm dropped their target price on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday. KeyCorp dropped their target price on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, B. Riley restated a “buy” rating and set a $13.50 target price (down previously from $14.50) on shares of indie Semiconductor in a research report on Friday, May 10th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor presently has a consensus rating of “Buy” and a consensus target price of $11.21.

indie Semiconductor Price Performance

INDI stock traded down $0.41 during trading on Friday, hitting $4.42. The company had a trading volume of 5,275,507 shares, compared to its average volume of 2,724,709. The company has a fifty day moving average price of $6.38 and a two-hundred day moving average price of $6.40. The company has a current ratio of 1.74, a quick ratio of 1.49 and a debt-to-equity ratio of 0.34. The company has a market cap of $825.49 million, a P/E ratio of -9.02 and a beta of 1.22. indie Semiconductor has a fifty-two week low of $4.24 and a fifty-two week high of $8.69.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The business had revenue of $52.35 million during the quarter, compared to the consensus estimate of $56.30 million. Equities research analysts expect that indie Semiconductor will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total transaction of $75,800.00. Following the completion of the transaction, the director now directly owns 75,185 shares of the company’s stock, valued at $569,902.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Ichiro Aoki sold 50,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $6.14, for a total transaction of $307,000.00. Following the sale, the president now owns 36,631 shares in the company, valued at $224,914.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total value of $75,800.00. Following the sale, the director now owns 75,185 shares in the company, valued at approximately $569,902.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 339,912 shares of company stock valued at $2,239,039. Company insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of INDI. Primecap Management Co. CA increased its stake in shares of indie Semiconductor by 93.5% during the second quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company’s stock worth $97,357,000 after purchasing an additional 7,624,797 shares during the period. Granahan Investment Management LLC increased its stake in shares of indie Semiconductor by 63.3% during the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock worth $107,008,000 after purchasing an additional 5,115,393 shares during the period. Bamco Inc. NY increased its stake in shares of indie Semiconductor by 28.0% during the first quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock worth $101,144,000 after purchasing an additional 3,121,255 shares during the period. Intrinsic Edge Capital Management LLC increased its stake in shares of indie Semiconductor by 132.5% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock worth $23,466,000 after purchasing an additional 1,648,818 shares during the period. Finally, UBS Group AG increased its stake in shares of indie Semiconductor by 4,346.7% during the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock worth $12,041,000 after purchasing an additional 1,451,308 shares during the period. 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.