indie Semiconductor (NASDAQ:INDI) Given New $6.00 Price Target at Craig Hallum

indie Semiconductor (NASDAQ:INDI) had its price objective trimmed by Craig Hallum from $8.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on INDI. B. Riley reiterated a “buy” rating on shares of indie Semiconductor in a report on Thursday, April 24th. Benchmark lowered their price objective on shares of indie Semiconductor from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group assumed coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective on the stock. Finally, KeyCorp cut their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.75.

indie Semiconductor Trading Up 1.5%

NASDAQ INDI opened at $2.78 on Tuesday. indie Semiconductor has a twelve month low of $1.53 and a twelve month high of $7.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The stock has a market cap of $579.61 million, a price-to-earnings ratio of -3.66 and a beta of 2.01. The firm’s 50 day moving average price is $2.12 and its two-hundred day moving average price is $3.42.

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

Insider Activity at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 13,570 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the transaction, the chief operating officer now directly owns 67,012 shares in the company, valued at $194,334.80. This trade represents a 16.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 65,754 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the sale, the chief executive officer now owns 246,535 shares of the company’s stock, valued at approximately $714,951.50. This trade represents a 21.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,277 shares of company stock valued at $434,192. 8.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its position in indie Semiconductor by 330.7% during the third quarter. Barclays PLC now owns 256,799 shares of the company’s stock worth $1,026,000 after purchasing an additional 197,179 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of indie Semiconductor in the fourth quarter worth $74,000. Artemis Investment Management LLP lifted its stake in shares of indie Semiconductor by 482.7% in the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock worth $26,486,000 after buying an additional 5,417,296 shares during the last quarter. Register Financial Advisors LLC boosted its holdings in shares of indie Semiconductor by 60.4% during the 4th quarter. Register Financial Advisors LLC now owns 337,028 shares of the company’s stock worth $1,365,000 after buying an additional 126,888 shares during the period. Finally, Redwood Wealth Management Group LLC acquired a new position in indie Semiconductor in the 4th quarter valued at $215,000. 67.73% of the stock is owned by institutional investors.

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.