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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.75.

A number of brokerages have weighed in on INDI. Craig Hallum decreased their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. KeyCorp reduced their price target on indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of indie Semiconductor in a research report on Wednesday, June 11th. Finally, B. Riley restated a “buy” rating on shares of indie Semiconductor in a research report on Thursday, April 24th.

Insider Buying and Selling

In other news, COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $2.59, for a total value of $35,547.75. Following the sale, the chief operating officer now directly owns 101,662 shares of the company’s stock, valued at $263,304.58. The trade was a 11.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INDI. Fred Alger Management LLC acquired a new stake in shares of indie Semiconductor in the first quarter valued at about $2,527,000. Nexpoint Asset Management L.P. boosted its position in indie Semiconductor by 43.7% during the first quarter. Nexpoint Asset Management L.P. now owns 165,959 shares of the company’s stock worth $338,000 after acquiring an additional 50,459 shares during the last quarter. Millennium Management LLC grew its stake in indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after acquiring an additional 3,037,435 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in indie Semiconductor by 42.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock valued at $2,040,000 after acquiring an additional 298,339 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in indie Semiconductor by 309.7% in the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after acquiring an additional 416,519 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Price Performance

Shares of INDI opened at $3.19 on Monday. The business’s 50-day moving average is $2.37 and its two-hundred day moving average is $3.18. The company has a market capitalization of $677.92 million, a P/E ratio of -4.20 and a beta of 2.12. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $7.45. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

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

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.