indie Semiconductor (NASDAQ:INDI) Earns “Buy” Rating from Benchmark

indie Semiconductor (NASDAQ:INDI)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a report released on Wednesday,Benzinga reports. They currently have a $6.00 target price on the stock. Benchmark’s price objective points to a potential upside of 147.93% from the company’s previous close.

Several other brokerages also recently commented on INDI. UBS Group started coverage on indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 target price for the company. Craig Hallum lowered their target price on indie Semiconductor from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. B. Riley reissued a “buy” rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Finally, KeyCorp lowered their price objective on indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.75.

indie Semiconductor Trading Up 4.3%

INDI opened at $2.42 on Wednesday. indie Semiconductor has a twelve month low of $1.53 and a twelve month high of $7.82. The company has a 50-day simple moving average of $2.12 and a 200 day simple moving average of $3.39. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $514.28 million, a price-to-earnings ratio of -3.18 and a beta of 2.01.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $54.08 million during the quarter, compared to the consensus estimate of $54.94 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Analysts predict that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Activity

In related news, CEO Donald Mcclymont sold 65,754 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the sale, the chief executive officer now directly owns 246,535 shares in the company, valued at $714,951.50. This represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Michael Wittmann sold 13,570 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $39,353.00. Following the completion of the sale, the chief operating officer now owns 67,012 shares in the company, valued at $194,334.80. The trade was a 16.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,277 shares of company stock valued at $434,192 over the last quarter. 8.20% of the stock is owned by company insiders.

Institutional Trading of indie Semiconductor

Several institutional investors have recently added to or reduced their stakes in INDI. Elemental Capital Partners LLC bought a new position in shares of indie Semiconductor during the 4th quarter worth approximately $14,272,000. Barclays PLC boosted its holdings in shares of indie Semiconductor by 12.4% during the 4th quarter. Barclays PLC now owns 288,715 shares of the company’s stock worth $1,169,000 after buying an additional 31,916 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of indie Semiconductor by 8.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company’s stock worth $5,796,000 after buying an additional 112,793 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of indie Semiconductor by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company’s stock worth $50,970,000 after buying an additional 942,088 shares in the last quarter. Finally, Register Financial Advisors LLC boosted its holdings in shares of indie Semiconductor by 60.4% during the 4th quarter. Register Financial Advisors LLC now owns 337,028 shares of the company’s stock worth $1,365,000 after buying an additional 126,888 shares in the last quarter. 67.73% of the stock is currently owned by 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.