indie Semiconductor (NASDAQ:INDI – Get Free Report) had its price target decreased by stock analysts at KeyCorp from $8.00 to $7.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 105.28% from the stock’s previous close.
A number of other research analysts have also recently commented on the company. Roth Mkm decreased their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. UBS Group started coverage on indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 price target on the stock. Finally, Benchmark decreased their price target on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.86.
Read Our Latest Stock Analysis on INDI
indie Semiconductor Trading Down 12.8 %
indie Semiconductor (NASDAQ:INDI – Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The business had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. As a group, equities research analysts expect that indie Semiconductor will post -0.54 EPS for the current year.
Insider Activity
In other news, COO Michael Wittmann sold 18,375 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the sale, the chief operating officer now directly owns 28,860 shares in the company, valued at approximately $118,326. This trade represents a 38.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the sale, the chief executive officer now owns 18,351 shares in the company, valued at approximately $79,092.81. The trade was a 73.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,593 shares of company stock worth $330,291. Corporate insiders own 8.20% of the company’s stock.
Hedge Funds Weigh In On indie Semiconductor
Several large investors have recently bought and sold shares of the business. American Trust increased its holdings in indie Semiconductor by 20.3% in the fourth quarter. American Trust now owns 34,845 shares of the company’s stock valued at $141,000 after buying an additional 5,869 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 valued at $1,069,000 after buying an additional 32,979 shares during the last quarter. Two Sigma Investments LP purchased a new position in indie Semiconductor in the fourth quarter valued at $386,000. ProShare Advisors LLC increased its holdings in indie Semiconductor by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock valued at $187,000 after buying an additional 15,202 shares during the last quarter. Finally, Meros Investment Management LP increased its holdings in indie Semiconductor by 43.4% in the fourth quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock valued at $5,026,000 after buying an additional 375,624 shares during the last quarter. 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.
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