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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given a consensus rating of “Buy” by the seven brokerages that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $13.50.

A number of equities analysts recently commented on INDI shares. Craig Hallum reduced their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. KeyCorp reduced their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd.

indie Semiconductor Stock Down 2.5 %

Shares of NASDAQ INDI opened at $5.85 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.88 and a beta of 1.15. The stock has a 50 day moving average price of $6.69 and a 200 day moving average price of $6.67. indie Semiconductor has a 52-week low of $4.67 and a 52-week high of $10.85.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $70.13 million during the quarter, compared to analyst estimates of $72.69 million. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. Sell-side analysts expect that indie Semiconductor will post -0.42 earnings per share for the current year.

Insider Transactions at indie Semiconductor

In related news, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Michael Wittmann sold 8,700 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $6.95, for a total value of $60,465.00. Following the transaction, the chief operating officer now directly owns 35,460 shares of the company’s stock, valued at approximately $246,447. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the transaction, the chief executive officer now directly owns 76,750 shares in the company, valued at $479,687.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,491 shares of company stock valued at $730,936. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently added to or reduced their stakes in INDI. Bamco Inc. NY boosted its stake in shares of indie Semiconductor by 88.9% during the 3rd quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock worth $69,545,000 after acquiring an additional 5,193,775 shares in the last quarter. Granahan Investment Management LLC raised its holdings in indie Semiconductor by 63.3% in the 4th 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 during the last quarter. State Street Corp raised its holdings in indie Semiconductor by 64.2% in the 2nd quarter. State Street Corp now owns 6,943,221 shares of the company’s stock valued at $65,266,000 after acquiring an additional 2,715,874 shares during the last quarter. BlackRock Inc. increased its holdings in shares of indie Semiconductor by 36.7% during the 2nd quarter. BlackRock Inc. now owns 8,849,734 shares of the company’s stock worth $83,187,000 after buying an additional 2,377,645 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of indie Semiconductor by 1,018.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,921,108 shares of the company’s stock worth $15,580,000 after buying an additional 1,749,397 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.