indie Semiconductor (NASDAQ:INDI) Stock Gets Price Target Reduction from B. Riley Financial

indie Semiconductor (NASDAQ:INDI) had its price target lowered by B. Riley Financial from $6.00 to $5.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also commented on INDI. TD Cowen dropped their price target on indie Semiconductor from $4.50 to $2.00 and set a “hold” rating on the stock in a report on Monday, October 19th. Roth Capital set a $5.00 price objective on indie Semiconductor in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, indie Semiconductor has an average rating of “Hold” and a consensus price target of $4.19.

indie Semiconductor Trading Down 3.0%

Shares of INDI stock opened at $1.63 on Thursday. indie Semiconductor has a 52-week low of $1.54 and a 52-week high of $5.97. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The company has a 50-day simple moving average of $3.08 and a two-hundred day simple moving average of $3.66. The company has a market capitalization of $377.85 million, a price-to-earnings ratio of -2.23 and a beta of 2.99.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The firm had revenue of $64.01 million during the quarter, compared to analyst estimates of $62.49 million. During the same quarter last year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. Research analysts anticipate that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CFO Naixi Wu sold 23,170 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $3.72, for a total value of $86,192.40. Following the completion of the sale, the chief financial officer directly owned 156,058 shares of the company’s stock, valued at $580,535.76. This trade represents a 12.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Donald McClymont sold 50,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $3.11, for a total value of $155,500.00. Following the completion of the sale, the chief executive officer owned 481,026 shares in the company, valued at approximately $1,495,990.86. The trade was a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 347,611 shares of company stock valued at $1,286,707 in the last three months. Insiders own 2.57% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC raised its stake in shares of indie Semiconductor by 38.3% during the 3rd quarter. Inspire Investing LLC now owns 215,492 shares of the company’s stock valued at $630,000 after purchasing an additional 59,711 shares during the period. Axxcess Wealth Management LLC purchased a new position in indie Semiconductor during the third quarter worth about $33,000. Elemental Capital Partners LLC raised its holdings in shares of indie Semiconductor by 0.5% in the 3rd quarter. Elemental Capital Partners LLC now owns 13,372,249 shares of the company’s stock valued at $39,114,000 after acquiring an additional 62,806 shares in the last quarter. Moody National Bank Trust Division boosted its position in shares of indie Semiconductor by 0.4% during the 3rd quarter. Moody National Bank Trust Division now owns 1,000,840 shares of the company’s stock valued at $2,927,000 after acquiring an additional 3,816 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of indie Semiconductor during the second quarter worth about $133,000. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc develops semiconductor and software solutions for the automotive industry. Its products are designed to support advanced driver-assistance systems (ADAS), vehicle electrification, connected-car applications and automotive user experiences.

The company’s technology portfolio includes solutions for automotive radar, computer vision, lidar, ultrasonic sensing, vehicle networking, battery management and power conversion. Its products are intended for use in systems such as automated parking, blind-spot detection, collision avoidance, in-cabin monitoring, lighting, infotainment and other intelligent vehicle functions.

Founded in 2007 and headquartered in Aliso Viejo, California, indie serves automotive manufacturers and suppliers internationally.