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

indie Semiconductor, Inc. (NASDAQ:INDI – Get Rating) has received a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $14.60.

Several analysts recently weighed in on the company. Benchmark assumed coverage on indie Semiconductor in a report on Friday, May 13th. They issued a “buy” rating and a $17.00 price objective for the company. B. Riley decreased their price objective on indie Semiconductor from $15.00 to $9.00 in a report on Friday, May 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on indie Semiconductor from $13.00 to $11.00 in a report on Friday, May 13th. Finally, Zacks Investment Research downgraded shares of indie Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th.

NASDAQ:INDI opened at $7.88 on Tuesday. indie Semiconductor has a twelve month low of $5.07 and a twelve month high of $16.33. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -8.21 and a beta of 0.34. The stock has a fifty day simple moving average of $7.06 and a 200-day simple moving average of $8.75. The company has a current ratio of 3.98, a quick ratio of 3.79 and a debt-to-equity ratio of 0.02.

indie Semiconductor (NASDAQ:INDI – Get Rating) last released its earnings results on Friday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of $22.00 million during the quarter, compared to the consensus estimate of $21.57 million. indie Semiconductor had a negative return on equity of 26.48% and a negative net margin of 140.59%. The business’s revenue for the quarter was up 171.6% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. As a group, equities research analysts predict that indie Semiconductor will post -0.54 EPS for the current fiscal year.

In other news, COO Steven Machuga sold 17,562 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $6.81, for a total transaction of $119,597.22. Following the sale, the chief operating officer now owns 155,938 shares in the company, valued at $1,061,937.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.23% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. State Street Corp boosted its position in indie Semiconductor by 2,147.6% in the fourth quarter. State Street Corp now owns 3,555,691 shares of the company’s stock valued at $42,633,000 after buying an additional 3,397,491 shares during the last quarter. Soros Fund Management LLC boosted its position in indie Semiconductor by 75.0% in the fourth quarter. Soros Fund Management LLC now owns 3,500,000 shares of the company’s stock valued at $41,965,000 after buying an additional 1,500,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in indie Semiconductor in the first quarter valued at approximately $11,378,000. Vanguard Group Inc. boosted its position in indie Semiconductor by 62.9% in the first quarter. Vanguard Group Inc. now owns 3,206,920 shares of the company’s stock valued at $25,046,000 after buying an additional 1,238,514 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in indie Semiconductor by 457.6% in the first quarter. Neuberger Berman Group LLC now owns 1,394,000 shares of the company’s stock valued at $10,888,000 after buying an additional 1,144,000 shares during the last quarter. Institutional investors and hedge funds own 25.04% of the company’s stock.

indie Semiconductor Company Profile (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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