Brokerages Set indie Semiconductor, Inc. (NASDAQ:INDI) Price Target at $8.92

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $8.92.

Several equities analysts have issued reports on INDI shares. Roth Mkm decreased their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Benchmark dropped 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.

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 stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares in the company, valued at approximately $118,326. This trade represents a 38.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $4.31, for a total value of $215,500.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $79,092.81. The trade was a 73.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,456 shares of company stock valued at $1,249,783 over the last quarter. 8.20% of the stock is currently owned by insiders.

Institutional Trading of indie Semiconductor

Hedge funds have recently made changes to their positions in the company. Primecap Management Co. CA raised its holdings in indie Semiconductor by 61.4% during the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock worth $101,619,000 after purchasing an additional 9,689,326 shares in the last quarter. Bamco Inc. NY increased its position in indie Semiconductor by 0.6% during the 3rd quarter. Bamco Inc. NY now owns 15,240,606 shares of the company’s stock worth $60,810,000 after purchasing an additional 89,181 shares during the period. State Street Corp raised its stake in shares of indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after buying an additional 161,132 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of indie Semiconductor by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after buying an additional 276,739 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after buying an additional 2,377,612 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Down 1.8 %

Shares of NASDAQ:INDI opened at $4.34 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $4.24 and a 200-day simple moving average of $4.71. The company has a market capitalization of $876.32 million, a PE ratio of -6.48 and a beta of 1.37. indie Semiconductor has a twelve month low of $3.16 and a twelve month high of $8.55.

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.