indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Rating of “Moderate Buy” by Analysts

indie Semiconductor, Inc. (NASDAQ:INDI) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.50.

Several research firms have issued reports on INDI. UBS Group began coverage on indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. KeyCorp cut their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Benchmark decreased their price objective on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, February 21st.

indie Semiconductor Trading Down 2.9 %

indie Semiconductor stock opened at $1.98 on Wednesday. The firm has a market cap of $399.79 million, a price-to-earnings ratio of -2.61 and a beta of 1.54. indie Semiconductor has a 1 year low of $1.90 and a 1 year high of $7.82. The firm’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $3.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $58.01 million for the quarter, compared to the consensus estimate 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, research analysts predict that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other news, COO Michael Wittmann sold 13,570 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $39,353.00. Following the transaction, the chief operating officer now directly owns 67,012 shares of the company’s stock, valued at approximately $194,334.80. This represents a 16.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Donald Mcclymont sold 65,754 shares of indie Semiconductor stock in a transaction on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the sale, the chief executive officer now directly owns 246,535 shares of the company’s stock, valued at approximately $714,951.50. The trade was a 21.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 151,414 shares of company stock valued at $456,699 over the last three months. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

Large investors have recently made changes to their positions in the company. Primecap Management Co. CA lifted its stake in indie Semiconductor by 3.2% in the fourth quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company’s stock valued at $106,465,000 after acquiring an additional 819,321 shares during the last quarter. Bamco Inc. NY raised its holdings in shares of indie Semiconductor by 30.6% during the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company’s stock valued at $80,602,000 after purchasing an additional 4,661,220 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in shares of indie Semiconductor by 60.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company’s stock valued at $70,366,000 after purchasing an additional 6,517,978 shares during the last quarter. Vanguard Group Inc. boosted its holdings in indie Semiconductor by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company’s stock worth $50,970,000 after purchasing an additional 942,088 shares in the last quarter. Finally, State Street Corp boosted its holdings in indie Semiconductor by 2.3% in the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after purchasing an additional 161,132 shares in the last quarter. Institutional investors 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.