indie Semiconductor (NASDAQ:INDI) Stock Price Target Lowered at B. Riley Financial

indie Semiconductor (NASDAQ:INDI) had its price objective cut by equities researchers at B. Riley Financial from $5.00 to $4.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial‘s price target would indicate a potential upside of 124.72% from the company’s previous close.

INDI has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, October 15th. Roth Capital set a $5.00 target price on indie Semiconductor in a report on Friday, August 7th. Finally, TD Cowen decreased their target price on indie Semiconductor from $4.50 to $2.00 and set a “hold” rating for the company in a research report on Monday, October 19th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.94.

indie Semiconductor Stock Up 31.4%

INDI traded up $0.42 on Friday, reaching $1.78. The company’s stock had a trading volume of 5,127,054 shares, compared to its average volume of 5,423,688. The stock has a 50 day moving average of $2.64 and a two-hundred day moving average of $3.50. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $412.62 million, a price-to-earnings ratio of -2.39 and a beta of 3.10. indie Semiconductor has a fifty-two week low of $1.34 and a fifty-two week high of $5.49.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%. The company had revenue of $70.24 million for the quarter, compared to analyst estimates of $70.21 million. During the same period in the previous year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. As a group, analysts forecast that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other news, Director Sonalee Parekh sold 59,932 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $4.07, for a total transaction of $243,923.24. Following the completion of the sale, the director owned 99,857 shares in the company, valued at approximately $406,417.99. This represents a 37.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald McClymont sold 50,000 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $3.11, for a total transaction of $155,500.00. Following the sale, the chief executive officer owned 481,026 shares of the company’s stock, valued at $1,495,990.86. This trade represents a 9.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 353,861 shares of company stock valued at $1,296,644. Company insiders own 2.57% of the company’s stock.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrity Alliance LLC. purchased a new stake in indie Semiconductor during the 3rd quarter valued at approximately $153,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of indie Semiconductor in the 3rd quarter valued at approximately $366,000. Inspire Investing LLC grew its stake in shares of indie Semiconductor by 38.3% in the 3rd quarter. Inspire Investing LLC now owns 215,492 shares of the company’s stock valued at $630,000 after purchasing an additional 59,711 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of indie Semiconductor in the 3rd quarter valued at approximately $33,000. Finally, Elemental Capital Partners LLC increased its holdings in shares of indie Semiconductor by 0.5% in the third quarter. Elemental Capital Partners LLC now owns 13,372,249 shares of the company’s stock valued at $39,114,000 after purchasing an additional 62,806 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Company Profile

indie Semiconductor, Inc develops semiconductor and software solutions for the automotive industry. Its products are designed to support advanced driver-assistance systems (ADAS), vehicle electrification, connected-car applications and automotive user experiences.

The company’s technology portfolio includes solutions for automotive radar, computer vision, lidar, ultrasonic sensing, vehicle networking, battery management and power conversion. Its products are intended for use in systems such as automated parking, blind-spot detection, collision avoidance, in-cabin monitoring, lighting, infotainment and other intelligent vehicle functions.

Founded in 2007 and headquartered in Aliso Viejo, California, indie serves automotive manufacturers and suppliers internationally.