indie Semiconductor (NASDAQ:INDI) Price Target Cut to $8.00 by Analysts at Benchmark

indie Semiconductor (NASDAQ:INDI) had its price objective cut by Benchmark from $9.00 to $8.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 134.60% from the stock’s current price.

Other equities analysts also recently issued reports about the company. UBS Group started coverage on indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective for the company. Roth Mkm cut their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, indie Semiconductor currently has a consensus rating of “Moderate Buy” and an average price target of $7.86.

indie Semiconductor Stock Performance

Shares of NASDAQ INDI opened at $3.41 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $4.16 and a 200-day simple moving average of $4.08. The company has a market cap of $688.55 million, a PE ratio of -4.49 and a beta of 1.41. indie Semiconductor has a 12-month low of $3.16 and a 12-month high of $7.82.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. On average, equities research analysts forecast that indie Semiconductor will post -0.54 EPS for the current year.

Insider Activity

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the sale, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at $118,326. The trade was a 38.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $4.31, for a total transaction of $215,500.00. Following the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,593 shares of company stock worth $330,291. Insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

Several large investors have recently added to or reduced their stakes in the company. American Trust raised its stake in indie Semiconductor by 20.3% during the 4th quarter. American Trust now owns 34,845 shares of the company’s stock valued at $141,000 after purchasing an additional 5,869 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of indie Semiconductor by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company’s stock worth $1,069,000 after acquiring an additional 32,979 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of indie Semiconductor in the fourth quarter worth $386,000. ProShare Advisors LLC increased its stake in shares of indie Semiconductor by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock worth $187,000 after acquiring an additional 15,202 shares during the last quarter. Finally, Meros Investment Management LP increased its stake in shares of indie Semiconductor by 43.4% in the fourth quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock worth $5,026,000 after acquiring an additional 375,624 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.