indie Semiconductor (NASDAQ:INDI) Rating Reiterated by Benchmark

Benchmark reiterated their buy rating on shares of indie Semiconductor (NASDAQ:INDI) 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.

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:INDI) 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

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.