indie Semiconductor (NASDAQ:INDI) Price Target Cut to $11.00

indie Semiconductor (NASDAQ:INDIGet Rating) had its price objective dropped by Deutsche Bank Aktiengesellschaft from $13.00 to $11.00 in a note issued to investors on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 103.70% from the stock’s previous close.

A number of other research firms also recently weighed in on INDI. B. Riley decreased their price target on indie Semiconductor from $22.00 to $15.00 in a research note on Thursday, February 24th. Zacks Investment Research upgraded indie Semiconductor from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $13.75.

NASDAQ:INDI opened at $5.40 on Friday. The firm has a market cap of $702.38 million, a P/E ratio of 1.57 and a beta of 0.36. The company has a current ratio of 7.36, a quick ratio of 7.09 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $7.17 and its 200-day simple moving average is $9.57. indie Semiconductor has a 12-month low of $5.07 and a 12-month high of $16.33.

indie Semiconductor (NASDAQ:INDIGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The business had revenue of $18.96 million during the quarter, compared to analysts’ expectations of $18.24 million. Research analysts forecast that indie Semiconductor will post -0.46 EPS for the current fiscal year.

In other indie Semiconductor news, COO Steven Machuga sold 8,699 shares of the business’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $7.30, for a total transaction of $63,502.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Scott David Kee sold 188,912 shares of the business’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $7.89, for a total value of $1,490,515.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,655 shares of company stock worth $2,268,945. 20.23% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of indie Semiconductor by 4.0% in the first quarter. BlackRock Inc. now owns 921,562 shares of the company’s stock worth $7,197,000 after acquiring an additional 35,596 shares during the last quarter. Citigroup Inc. raised its holdings in shares of indie Semiconductor by 102.7% in the first quarter. Citigroup Inc. now owns 76,416 shares of the company’s stock worth $597,000 after acquiring an additional 38,721 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of indie Semiconductor by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 24,418 shares of the company’s stock worth $191,000 after acquiring an additional 4,272 shares during the last quarter. Primecap Management Co. CA increased its stake in indie Semiconductor by 70.0% in the first quarter. Primecap Management Co. CA now owns 1,341,219 shares of the company’s stock valued at $10,475,000 after purchasing an additional 552,219 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in indie Semiconductor in the first quarter valued at $1,044,000. 25.04% of the stock is owned by institutional investors.

About indie Semiconductor (Get Rating)

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.

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