indie Semiconductor’s (INDI) “Buy” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of indie Semiconductor (NASDAQ:INDI) in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

Several other analysts have also recently commented on the stock. Roth Mkm dropped their target price 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of indie Semiconductor from $9.00 to $7.00 and set a buy rating for the company in a research report on Friday, August 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average target price of $10.50.

indie Semiconductor Stock Up 8.3 %

NASDAQ:INDI opened at $3.91 on Tuesday. The stock’s fifty day moving average price is $4.96 and its two-hundred day moving average price is $5.90. indie Semiconductor has a 52-week low of $3.16 and a 52-week high of $8.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. The company has a market cap of $771.91 million, a price-to-earnings ratio of -7.98 and a beta of 1.20.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The company had revenue of $52.40 million during 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 business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS. On average, analysts anticipate that indie Semiconductor will post -0.7 EPS for the current year.

Insider Activity at indie Semiconductor

In related news, President Ichiro Aoki sold 75,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $6.24, for a total value of $468,000.00. Following the completion of the sale, the president now owns 36,631 shares in the company, valued at approximately $228,577.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 281,882 shares of company stock worth $1,585,570 in the last quarter. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after purchasing an additional 3,906 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in indie Semiconductor by 40.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after purchasing an additional 2,000 shares in the last quarter. Financial Management Professionals Inc. bought a new position in indie Semiconductor during the 1st quarter worth about $53,000. Quent Capital LLC increased its holdings in indie Semiconductor by 66.7% during the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Olympiad Research LP bought a new position in indie Semiconductor during the 4th quarter worth about $82,000. Institutional investors 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.