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

indie Semiconductor (NASDAQ:INDI)‘s stock had its “buy” rating reissued by analysts at Benchmark in a report issued on Tuesday, Benzinga reports. They presently have a $17.00 target price on the stock. Benchmark’s target price points to a potential upside of 162.75% from the company’s current price.

Several other analysts have also commented on the stock. B. Riley dropped their target price on shares of indie Semiconductor from $16.00 to $15.50 and set a “buy” rating on the stock in a research note on Friday, August 11th. Deutsche Bank Aktiengesellschaft lowered their target price on indie Semiconductor from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Finally, Craig Hallum cut their price target on indie Semiconductor from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, August 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, indie Semiconductor has an average rating of “Buy” and an average target price of $13.70.

indie Semiconductor Trading Down 3.6 %

Shares of INDI stock opened at $6.47 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.29 and a current ratio of 2.68. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -5.88 and a beta of 0.86. indie Semiconductor has a 52-week low of $5.66 and a 52-week high of $11.12. The company has a 50-day simple moving average of $7.82 and a two-hundred day simple moving average of $8.84.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, August 10th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). indie Semiconductor had a negative return on equity of 17.49% and a negative net margin of 91.08%. The business had revenue of $52.11 million during the quarter, compared to analysts’ expectations of $51.98 million. Research analysts anticipate that indie Semiconductor will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Thomas Schiller sold 30,000 shares of indie Semiconductor stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $9.37, for a total value of $281,100.00. Following the completion of the transaction, the chief financial officer now directly owns 1,191,280 shares in the company, valued at $11,162,293.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other indie Semiconductor news, CFO Thomas Schiller sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $9.37, for a total value of $281,100.00. Following the completion of the transaction, the chief financial officer now owns 1,191,280 shares in the company, valued at approximately $11,162,293.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sonalee Elizabeth Parekh sold 10,700 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $6.50, for a total value of $69,550.00. Following the sale, the director now owns 50,522 shares in the company, valued at $328,393. The disclosure for this sale can be found here. Insiders have sold 80,700 shares of company stock valued at $701,450 in the last 90 days. 9.90% of the stock is currently owned by company insiders.

Institutional Trading of indie Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the company. Portside Wealth Group LLC bought a new position in shares of indie Semiconductor in the second quarter worth $911,000. California State Teachers Retirement System grew its stake in indie Semiconductor by 42.7% in the 2nd quarter. California State Teachers Retirement System now owns 150,809 shares of the company’s stock worth $1,418,000 after buying an additional 45,154 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of indie Semiconductor in the 2nd quarter worth $399,000. Castleark Management LLC raised its position in shares of indie Semiconductor by 95.3% during the 2nd quarter. Castleark Management LLC now owns 558,670 shares of the company’s stock valued at $5,251,000 after buying an additional 272,610 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in indie Semiconductor by 25.3% in the second quarter. Alliancebernstein L.P. now owns 131,360 shares of the company’s stock worth $1,235,000 after acquiring an additional 26,560 shares in the last quarter. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

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, rest of Asia Pacific, and Europe.