indie Semiconductor, Inc. (NASDAQ:INDI) Receives Average Recommendation of “Buy” from Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI) has earned an average recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $12.64.

INDI has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price target on indie Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, May 10th. KeyCorp dropped their target price on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Finally, B. Riley reaffirmed a “buy” rating and set a $13.50 price target (down from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th.

Insider Buying and Selling

In other news, President Ichiro Aoki sold 75,000 shares of indie Semiconductor stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $7.09, for a total transaction of $531,750.00. Following the completion of the sale, the president now directly owns 36,631 shares in the company, valued at approximately $259,713.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Sonalee Elizabeth Parekh sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $7.58, for a total value of $75,800.00. Following the sale, the director now directly owns 75,185 shares in the company, valued at approximately $569,902.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Ichiro Aoki sold 75,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $7.09, for a total transaction of $531,750.00. Following the transaction, the president now owns 36,631 shares of the company’s stock, valued at $259,713.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 399,912 shares of company stock valued at $2,579,839. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of indie Semiconductor

Several large investors have recently modified their holdings of the business. Bamco Inc. NY lifted its stake in indie Semiconductor by 28.0% in the 1st quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock valued at $101,144,000 after buying an additional 3,121,255 shares in the last quarter. Granahan Investment Management LLC lifted its position in shares of indie Semiconductor by 63.3% in the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after acquiring an additional 5,115,393 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of indie Semiconductor by 3.2% in the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock valued at $75,047,000 after acquiring an additional 332,500 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of indie Semiconductor by 20.7% during the fourth quarter. Primecap Management Co. CA now owns 5,060,480 shares of the company’s stock valued at $41,040,000 after acquiring an additional 867,180 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in indie Semiconductor by 40.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock worth $25,453,000 after purchasing an additional 902,530 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

indie Semiconductor Price Performance

INDI stock opened at $6.01 on Friday. 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 capitalization of $1.12 billion, a P/E ratio of -12.27 and a beta of 1.22. The business has a 50 day simple moving average of $6.62 and a 200-day simple moving average of $6.50. indie Semiconductor has a twelve month low of $4.67 and a twelve month high of $9.51.

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

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.