Zacks Investment Research Downgrades indie Semiconductor (NASDAQ:INDI) to Hold

indie Semiconductor (NASDAQ:INDIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “indie Semiconductor provides automotive semiconductors and software platforms. It focus on edge sensors for Advanced Driver Assistance Systems including LiDAR, connected car, user experience and electrification applications. indie Semiconductor, formerly known as Thunder Bridge Acquisition II Ltd., is based in Virginia, United States. “

Several other research analysts have also weighed in on INDI. B. Riley lowered their price objective on indie Semiconductor from $15.00 to $9.00 in a research report on Friday, May 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on indie Semiconductor from $13.00 to $11.00 in a research report on Friday, May 13th. Finally, Benchmark began coverage on indie Semiconductor in a research report on Friday, May 13th. They issued a “buy” rating and a $17.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $13.29.

NASDAQ:INDI opened at $6.80 on Tuesday. indie Semiconductor has a one year low of $5.07 and a one year high of $16.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.09 and a current ratio of 3.98. The stock has a market cap of $961.19 million, a PE ratio of -7.08 and a beta of 0.36. The stock has a 50 day moving average price of $7.07 and a 200 day moving average price of $9.29.

indie Semiconductor (NASDAQ:INDIGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $18.96 million during the quarter, compared to analysts’ expectations of $18.24 million. indie Semiconductor had a negative return on equity of 26.48% and a negative net margin of 140.59%. As a group, analysts predict that indie Semiconductor will post -0.46 earnings per share for the current fiscal year.

In related news, CTO Scott David Kee sold 188,912 shares of indie Semiconductor 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Steven Machuga sold 17,562 shares of indie Semiconductor stock in a transaction on Monday, May 16th. The shares were sold at an average price of $6.81, for a total value of $119,597.22. Following the completion of the transaction, the chief operating officer now owns 155,938 shares of the company’s stock, valued at $1,061,937.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 313,217 shares of company stock valued at $2,388,542. 20.23% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC raised its stake in indie Semiconductor by 11.4% in the third quarter. Cetera Advisors LLC now owns 11,700 shares of the company’s stock valued at $144,000 after buying an additional 1,200 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in indie Semiconductor by 41.1% in the third quarter. Advisor Group Holdings Inc. now owns 6,532 shares of the company’s stock valued at $80,000 after buying an additional 1,903 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in indie Semiconductor in the third quarter valued at $25,000. Samalin Investment Counsel LLC acquired a new stake in indie Semiconductor in the fourth quarter valued at $25,000. Finally, Harbour Investments Inc. raised its stake in indie Semiconductor by 579.0% in the fourth quarter. Harbour Investments Inc. now owns 2,974 shares of the company’s stock valued at $36,000 after buying an additional 2,536 shares in the last quarter. Institutional investors own 25.04% of the company’s stock.

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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