indie Semiconductor (NASDAQ:INDI) Price Target Lowered to $9.00 at B. Riley

indie Semiconductor (NASDAQ:INDIGet Rating) had its price objective trimmed by B. Riley from $15.00 to $9.00 in a research report report published on Friday morning, The Fly reports.

A number of other analysts have also recently weighed in on INDI. Zacks Investment Research upgraded shares of indie Semiconductor from a hold rating to a buy rating and set a $6.75 price target for the company in a research note on Wednesday. Benchmark assumed coverage on shares of indie Semiconductor in a research note on Friday. They set a buy rating and a $17.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of indie Semiconductor from $13.00 to $11.00 in a research note on Friday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $13.29.

Shares of indie Semiconductor stock traded up $1.54 during trading hours on Friday, hitting $6.94. The company had a trading volume of 3,609,414 shares, compared to its average volume of 1,120,083. The company’s 50-day moving average is $7.12 and its two-hundred day moving average is $9.51. indie Semiconductor has a twelve month low of $5.07 and a twelve month high of $16.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.36 and a quick ratio of 7.09. The company has a market cap of $902.69 million, a P/E ratio of -7.23 and a beta of 0.36.

indie Semiconductor (NASDAQ:INDIGet Rating) last issued its earnings results on Tuesday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). The company had revenue of $18.96 million during the quarter, compared to analyst estimates of $18.24 million. Sell-side analysts expect that indie Semiconductor will post -0.46 EPS for the current year.

In other news, COO Steven Machuga sold 8,699 shares of the stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $7.30, for a total value of $63,502.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Scott David Kee sold 188,912 shares of the stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $7.89, for a total transaction of $1,490,515.68. The disclosure for this sale can be found here. Insiders sold a total of 295,655 shares of company stock valued at $2,268,945 in the last 90 days. Company insiders own 20.23% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in INDI. State Street Corp increased its holdings in shares of indie Semiconductor by 2,147.6% in the 4th quarter. State Street Corp now owns 3,555,691 shares of the company’s stock valued at $42,633,000 after purchasing an additional 3,397,491 shares in the last quarter. Bamco Inc. NY increased its holdings in indie Semiconductor by 183.0% during the 3rd quarter. Bamco Inc. NY now owns 4,920,761 shares of the company’s stock valued at $60,575,000 after acquiring an additional 3,181,687 shares in the last quarter. Soros Fund Management LLC increased its holdings in indie Semiconductor by 75.0% during the 4th quarter. Soros Fund Management LLC now owns 3,500,000 shares of the company’s stock valued at $41,965,000 after acquiring an additional 1,500,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in indie Semiconductor by 62.9% during the 1st quarter. Vanguard Group Inc. now owns 3,206,920 shares of the company’s stock valued at $25,046,000 after acquiring an additional 1,238,514 shares in the last quarter. Finally, Primecap Management Co. CA purchased a new position in indie Semiconductor during the 3rd quarter valued at about $9,567,000. Institutional investors and hedge funds own 25.04% of the company’s stock.

indie Semiconductor Company Profile (Get Rating)

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.

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