Roth Mkm Cuts indie Semiconductor (NASDAQ:INDI) Price Target to $5.00

indie Semiconductor (NASDAQ:INDI) had its price target cut by investment analysts at Roth Mkm from $7.00 to $5.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s target price suggests a potential downside of 8.76% from the company’s current price.

A number of other analysts have also commented on the company. Benchmark cut their price target on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $9.79.

indie Semiconductor Trading Up 59.8 %

Shares of INDI traded up $2.05 during midday trading on Friday, reaching $5.48. 36,220,561 shares of the stock were exchanged, compared to its average volume of 2,225,279. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $8.69. The company has a quick ratio of 2.20, a current ratio of 2.66 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $3.70 and its 200 day simple moving average is $5.14.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative return on equity of 24.14% and a negative net margin of 49.88%. The company had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $53.61 million. During the same quarter last year, the business earned ($0.11) earnings per share. indie Semiconductor’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts predict that indie Semiconductor will post -0.7 earnings per share for the current year.

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INDI. GAMMA Investing LLC lifted its position in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after buying an additional 3,906 shares during the last quarter. Xponance Inc. purchased a new position in shares of indie Semiconductor during the 2nd quarter valued at $63,000. Creative Planning purchased a new position in shares of indie Semiconductor during the 3rd quarter valued at $75,000. Legato Capital Management LLC purchased a new position in shares of indie Semiconductor during the 2nd quarter valued at $76,000. Finally, SlateStone Wealth LLC purchased a new position in shares of indie Semiconductor during the 2nd quarter valued at $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.