indie Semiconductor (NASDAQ:INDI) Receives “Buy” Rating from B. Riley

indie Semiconductor (NASDAQ:INDI)‘s stock had its “buy” rating reaffirmed by investment analysts at B. Riley in a report issued on Friday, Benzinga reports. They currently have a $13.50 target price on the stock, down from their previous target price of $14.50. B. Riley’s price objective would indicate a potential upside of 142.81% from the stock’s previous close.

Several other equities research analysts have also commented on INDI. Craig Hallum decreased their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. KeyCorp decreased their price objective on shares of indie Semiconductor from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor currently has a consensus rating of “Buy” and a consensus target price of $13.21.

indie Semiconductor Stock Down 4.0 %

INDI stock traded down $0.23 during midday trading on Friday, reaching $5.56. 4,782,732 shares of the company were exchanged, compared to its average volume of 2,676,154. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.72 and a current ratio of 1.96. indie Semiconductor has a 1-year low of $4.67 and a 1-year high of $10.85. The stock’s 50-day simple moving average is $6.27 and its 200 day simple moving average is $6.67. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -6.94 and a beta of 1.21.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. indie Semiconductor had a negative net margin of 52.46% and a negative return on equity of 15.84%. The firm had revenue of $70.13 million for the quarter, compared to analyst estimates of $72.69 million. On average, equities analysts forecast that indie Semiconductor will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the chief executive officer now directly owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other indie Semiconductor news, CFO Thomas Schiller sold 60,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $5.68, for a total value of $340,800.00. Following the transaction, the chief financial officer now owns 1,039,583 shares of the company’s stock, valued at $5,904,831.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the transaction, the chief executive officer now directly owns 76,750 shares in the company, valued at approximately $479,687.50. The disclosure for this sale can be found here. Insiders have sold a total of 173,323 shares of company stock valued at $1,081,244 in the last three months. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in indie Semiconductor by 269.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock worth $50,000 after purchasing an additional 4,470 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of indie Semiconductor during the first quarter valued at $53,000. Newbridge Financial Services Group Inc. lifted its stake in shares of indie Semiconductor by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock valued at $56,000 after acquiring an additional 2,000 shares during the period. Psagot Value Holdings Ltd. Israel lifted its stake in shares of indie Semiconductor by 24.2% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock valued at $69,000 after acquiring an additional 1,610 shares during the period. Finally, Quent Capital LLC lifted its stake in shares of indie Semiconductor by 66.7% during the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after acquiring an additional 4,000 shares during the period. 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.