indie Semiconductor’s (INDI) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of indie Semiconductor (NASDAQ:INDI) in a report issued on Wednesday morning,Benzinga reports. They currently have a $6.00 target price on the stock.

Several other brokerages have also recently issued reports on INDI. B. Riley reissued a “buy” rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Craig Hallum dropped their price target on shares of indie Semiconductor from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, KeyCorp lowered their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, indie Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $5.75.

indie Semiconductor Stock Down 7.8%

Shares of INDI opened at $3.19 on Wednesday. The company’s 50-day moving average price is $2.37 and its 200 day moving average price is $3.20. indie Semiconductor has a 12-month low of $1.53 and a 12-month high of $7.45. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The firm has a market cap of $677.92 million, a P/E ratio of -4.20 and a beta of 2.12.

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

Insiders Place Their Bets

In related news, COO Michael Wittmann sold 13,725 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $2.59, for a total transaction of $35,547.75. Following the completion of the transaction, the chief operating officer now owns 101,662 shares in the company, valued at $263,304.58. The trade was a 11.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of INDI. Kera Capital Partners Inc. acquired a new position in shares of indie Semiconductor in the 1st quarter worth $31,000. National Bank of Canada FI grew its holdings in shares of indie Semiconductor by 32.7% in the 1st quarter. National Bank of Canada FI now owns 17,852 shares of the company’s stock worth $36,000 after acquiring an additional 4,400 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of indie Semiconductor by 36.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,486 shares of the company’s stock worth $39,000 after acquiring an additional 5,213 shares during the last quarter. SlateStone Wealth LLC grew its holdings in shares of indie Semiconductor by 27.1% in the 1st quarter. SlateStone Wealth LLC now owns 22,100 shares of the company’s stock worth $45,000 after acquiring an additional 4,706 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of indie Semiconductor in the 1st quarter worth $53,000. Institutional investors own 67.73% of the company’s stock.

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.