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

indie Semiconductor, Inc. (NASDAQ:INDI) has been assigned a consensus rating of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is $8.92.

Several analysts have recently issued reports on INDI shares. Roth Mkm decreased their price target on 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 reduced their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

indie Semiconductor Trading 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 stock has a market capitalization of $876.32 million, a PE ratio of -6.48 and a beta of 1.37. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $8.55. The firm has a fifty day moving average price of $4.24 and a 200 day moving average price of $4.69.

Insider Activity

In other news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 18,351 shares in the company, valued at approximately $79,092.81. This trade represents a 73.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50. Following the transaction, the chief operating officer now directly owns 28,860 shares in the company, valued at $118,326. This trade represents a 38.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,456 shares of company stock valued at $1,249,783. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently made changes to their positions in INDI. Virtu Financial LLC acquired a new position in indie Semiconductor in the 3rd quarter valued at approximately $58,000. Xponance Inc. bought a new position in indie Semiconductor in the second quarter worth $63,000. Creative Planning acquired a new stake in indie Semiconductor during the third quarter worth $75,000. Legato Capital Management LLC bought a new stake in indie Semiconductor in the 2nd quarter valued at $76,000. Finally, SlateStone Wealth LLC acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $82,000. 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.