indie Semiconductor, Inc. (NASDAQ:INDI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given a consensus recommendation of “Buy” by the seven analysts that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $9.79.

Several research analysts recently weighed in on INDI shares. Roth Mkm cut their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Benchmark cut their price objective on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the sale, the chief executive officer now owns 18,351 shares in the company, valued at $86,433.21. This trade represents a 91.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total value of $287,250.00. Following the transaction, the chief financial officer now owns 977,192 shares of the company’s stock, valued at approximately $3,742,645.36. This trade represents a 7.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 278,531 shares of company stock worth $1,242,915. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA raised its stake 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 valued at $101,619,000 after buying an additional 9,689,326 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of indie Semiconductor by 290.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after acquiring an additional 2,377,612 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of indie Semiconductor during the 3rd quarter valued at approximately $4,478,000. Harber Asset Management LLC bought a new position in indie Semiconductor during the third quarter worth $3,406,000. Finally, General American Investors Co. Inc. boosted its holdings in indie Semiconductor by 46.5% in the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock worth $5,376,000 after purchasing an additional 427,928 shares during the period. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $5.03 on Thursday. The company has a market cap of $1.02 billion, a P/E ratio of -7.51 and a beta of 1.22. The firm’s 50 day moving average is $3.95 and its two-hundred day moving average is $5.05. indie Semiconductor has a fifty-two week low of $3.16 and a fifty-two week high of $8.69. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

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.