indie Semiconductor, Inc. (NASDAQ:INDI) Receives $8.29 Average PT from Brokerages

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.29.

Several equities research analysts have issued reports on INDI shares. Roth Mkm dropped their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. UBS Group started coverage on indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. Finally, Benchmark cut their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 18,375 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the sale, the chief operating officer now directly owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 18,351 shares of the company’s stock, valued at approximately $79,092.81. This represents a 73.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,593 shares of company stock worth $330,291 over the last ninety days. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its position in indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock valued at $54,000 after purchasing an additional 4,023 shares in the last quarter. Regal Investment Advisors LLC raised its holdings in shares of indie Semiconductor by 39.2% during the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock valued at $57,000 after buying an additional 3,988 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of indie Semiconductor during the 3rd quarter valued at about $58,000. Daiwa Securities Group Inc. boosted its stake in indie Semiconductor by 74.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock worth $60,000 after buying an additional 6,363 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in indie Semiconductor in the fourth quarter worth approximately $62,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $3.86 on Tuesday. The firm’s 50 day moving average is $4.22 and its 200 day moving average is $4.13. The stock has a market capitalization of $779.41 million, a P/E ratio of -5.76 and a beta of 1.41. indie Semiconductor has a 12 month low of $3.16 and a 12 month high of $7.82. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

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.