indie Semiconductor (NASDAQ:INDI) Rating Reiterated by Benchmark

Benchmark reiterated their buy rating on shares of indie Semiconductor (NASDAQ:INDIFree Report) in a research note issued to investors on Tuesday, Benzinga reports. Benchmark currently has a $12.00 target price on the stock.

A number of other research analysts also recently commented on INDI. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a buy rating for the company in a research note on Friday, August 9th. Roth Mkm dropped their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a buy rating for the company in a research report on Friday, August 9th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus price target of $10.50.

Check Out Our Latest Research Report on INDI

indie Semiconductor Trading Up 5.6 %

Shares of INDI opened at $3.61 on Tuesday. indie Semiconductor has a 1-year low of $3.16 and a 1-year high of $8.69. The stock has a market cap of $674.21 million, a price-to-earnings ratio of -7.37 and a beta of 1.20. The firm has a 50 day simple moving average of $5.01 and a 200-day simple moving average of $5.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20.

indie Semiconductor (NASDAQ:INDIGet Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business had revenue of $52.40 million during the quarter, compared to the consensus estimate of $53.61 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts forecast that indie Semiconductor will post -0.7 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, President Ichiro Aoki sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $6.52, for a total value of $489,000.00. Following the transaction, the president now owns 36,631 shares in the company, valued at $238,834.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 281,882 shares of company stock worth $1,585,570. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of indie Semiconductor

Several large investors have recently added to or reduced their stakes in INDI. American Trust purchased a new stake in shares of indie Semiconductor in the second quarter worth about $139,000. B. Riley Wealth Advisors Inc. acquired a new position in indie Semiconductor during the 2nd quarter worth approximately $105,000. Ironwood Investment Management LLC boosted its holdings in indie Semiconductor by 30.4% in the 2nd quarter. Ironwood Investment Management LLC now owns 141,300 shares of the company’s stock worth $872,000 after acquiring an additional 32,975 shares during the period. Algert Global LLC acquired a new stake in indie Semiconductor in the second quarter valued at approximately $97,000. Finally, Meros Investment Management LP raised its stake in shares of indie Semiconductor by 1.6% during the second quarter. Meros Investment Management LP now owns 821,229 shares of the company’s stock valued at $5,067,000 after purchasing an additional 12,836 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

About indie Semiconductor

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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.

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Analyst Recommendations for indie Semiconductor (NASDAQ:INDI)

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