Brokerages Set indie Semiconductor, Inc. (NASDAQ:INDI) PT at $8.92

indie Semiconductor, Inc. (NASDAQ:INDI) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.92.

A number of analysts recently commented on the stock. Roth Mkm dropped their target price on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark cut their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $4.31, for a total transaction of $215,500.00. Following the completion of the sale, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares in the company, valued at approximately $118,326. This trade represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 271,456 shares of company stock worth $1,249,783. 8.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INDI. Primecap Management Co. CA increased its stake in shares of indie Semiconductor by 61.4% in the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after acquiring an additional 9,689,326 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in indie Semiconductor by 290.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after purchasing an additional 2,377,612 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of indie Semiconductor during the 3rd quarter worth about $4,478,000. Harber Asset Management LLC acquired a new stake in shares of indie Semiconductor during the 3rd quarter valued at about $3,406,000. Finally, General American Investors Co. Inc. grew its stake in shares of indie Semiconductor by 46.5% in the 3rd quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock valued at $5,376,000 after buying an additional 427,928 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Price Performance

NASDAQ:INDI opened at $4.34 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $4.24 and its 200 day moving average price is $4.69. indie Semiconductor has a 52-week low of $3.16 and a 52-week high of $8.55. The firm has a market cap of $876.32 million, a P/E ratio of -6.48 and a beta of 1.37.

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.