Benchmark Lowers indie Semiconductor (NASDAQ:INDI) Price Target to $9.00

indie Semiconductor (NASDAQ:INDI) had its price target decreased by Benchmark from $12.00 to $9.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on INDI. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Roth Mkm decreased their target price on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $9.79.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $5.48 on Tuesday. The company’s 50 day simple moving average is $3.70 and its 200 day simple moving average is $5.14. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -10.75 and a beta of 1.22. 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 has a 1 year low of $3.16 and a 1 year high of $8.69.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). The business had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) earnings per share. As a group, research analysts predict that indie Semiconductor will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after buying an additional 3,906 shares during the period. Xponance Inc. acquired a new position in shares of indie Semiconductor during the second quarter valued at about $63,000. Legato Capital Management LLC acquired a new position in shares of indie Semiconductor during the second quarter valued at about $76,000. SlateStone Wealth LLC acquired a new position in shares of indie Semiconductor during the second quarter valued at about $82,000. Finally, Algert Global LLC acquired a new position in shares of indie Semiconductor during the second quarter valued at about $97,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.