indie Semiconductor (NASDAQ:INDI) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of indie Semiconductor (NASDAQ:INDI) in a research report report published on Friday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $4.50 target price on the stock.

Several other brokerages have also recently issued reports on INDI. Benchmark lowered their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Roth Mkm decreased their price objective on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.29.

indie Semiconductor Price Performance

Shares of INDI stock opened at $4.27 on Friday. The business has a 50 day simple moving average of $4.40 and a 200 day simple moving average of $4.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor has a 12-month low of $3.16 and a 12-month high of $7.82.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). The company had revenue of $53.97 million during the quarter, compared to analyst estimates of $53.65 million. indie Semiconductor had a negative return on equity of 24.04% and a negative net margin of 49.88%. During the same period in the previous year, the company earned ($0.17) EPS. Sell-side analysts anticipate that indie Semiconductor will post -0.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Michael Wittmann sold 18,375 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were 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 approximately $118,326. This represents a 38.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,593 shares of company stock worth $1,272,291 over the last quarter. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Register Financial Advisors LLC lifted 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 valued at $1,365,000 after purchasing an additional 126,888 shares in the last quarter. Artemis Investment Management LLP lifted its stake in indie Semiconductor by 482.7% in the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after buying an additional 5,417,296 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of indie Semiconductor in the fourth quarter valued at approximately $74,000. Moody National Bank Trust Division boosted its holdings in shares of indie Semiconductor by 2.3% in the fourth quarter. Moody National Bank Trust Division now owns 650,810 shares of the company’s stock valued at $2,636,000 after buying an additional 14,500 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in shares of indie Semiconductor by 4.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,333,220 shares of the company’s stock worth $13,500,000 after acquiring an additional 137,310 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

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.