UBS Group Initiates Coverage on indie Semiconductor (NASDAQ:INDI)

Research analysts at UBS Group initiated coverage on shares of indie Semiconductor (NASDAQ:INDI) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $4.50 price target on the stock. UBS Group’s price target indicates a potential upside of 3.21% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Roth Mkm reduced their price objective 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. Benchmark reduced their price target on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.29.

indie Semiconductor Stock Performance

Shares of INDI opened at $4.36 on Friday. The company has a market capitalization of $880.37 million, a PE ratio of -6.51 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor has a one year low of $3.16 and a one year high of $7.82. The company’s fifty day moving average price is $4.40 and its 200 day moving average price is $4.41.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. The business had revenue of $53.97 million during the quarter, compared to the consensus estimate of $53.65 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, analysts expect that indie Semiconductor will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $79,092.81. This represents a 73.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $75,337.50. Following the completion of the sale, the chief operating officer now directly owns 28,860 shares in the company, valued at approximately $118,326. This represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,593 shares of company stock worth $1,272,291 over the last 90 days. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA grew its holdings in shares of indie Semiconductor by 61.4% in the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after purchasing an additional 9,689,326 shares during the last quarter. Artemis Investment Management LLP grew its stake in indie Semiconductor by 482.7% during the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock worth $26,486,000 after buying an additional 5,417,296 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of indie Semiconductor by 290.6% during the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after buying an additional 2,377,612 shares in the last quarter. Harber Asset Management LLC bought a new position in shares of indie Semiconductor in the third quarter valued at approximately $3,406,000. Finally, General American Investors Co. Inc. boosted its holdings in shares of indie Semiconductor by 46.5% in the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after acquiring an additional 427,928 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.