indie Semiconductor (NASDAQ:INDI) Receives Buy Rating from Benchmark

indie Semiconductor (NASDAQ:INDI)‘s stock had its “buy” rating reiterated by Benchmark in a research note issued on Wednesday,Benzinga reports. They currently have a $6.00 price objective on the stock. Benchmark’s target price suggests a potential upside of 73.41% from the company’s previous close.

INDI has been the subject of a number of other reports. Craig Hallum lowered their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. B. Riley restated a “buy” rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Finally, KeyCorp decreased their price objective on shares of indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, indie Semiconductor has a consensus rating of “Moderate Buy” and a consensus price target of $5.75.

indie Semiconductor Stock Up 7.1%

NASDAQ:INDI opened at $3.46 on Wednesday. The company’s 50-day simple moving average is $2.34 and its 200-day simple moving average is $3.21. The stock has a market capitalization of $735.30 million, a P/E ratio of -4.55 and a beta of 2.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $7.52.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $54.08 million during the quarter, compared to analysts’ expectations of $54.94 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. indie Semiconductor’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. On average, equities analysts anticipate that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Michael Wittmann sold 13,725 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total value of $35,547.75. Following the completion of the sale, the chief operating officer now owns 101,662 shares of the company’s stock, valued at approximately $263,304.58. The trade was a 11.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kera Capital Partners Inc. purchased a new stake in indie Semiconductor in the 1st quarter worth $31,000. National Bank of Canada FI raised its position in shares of indie Semiconductor by 32.7% in the first quarter. National Bank of Canada FI now owns 17,852 shares of the company’s stock valued at $36,000 after buying an additional 4,400 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of indie Semiconductor by 36.5% in the first quarter. Hsbc Holdings PLC now owns 19,486 shares of the company’s stock valued at $39,000 after buying an additional 5,213 shares during the last quarter. SlateStone Wealth LLC raised its position in shares of indie Semiconductor by 27.1% in the first quarter. SlateStone Wealth LLC now owns 22,100 shares of the company’s stock valued at $45,000 after buying an additional 4,706 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of indie Semiconductor in the first quarter valued at about $53,000. Hedge funds and other 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.