KeyCorp Trims indie Semiconductor (NASDAQ:INDI) Target Price to $9.00

indie Semiconductor (NASDAQ:INDI) had its price objective cut by KeyCorp from $10.00 to $9.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 60.14% from the company’s previous close.

A number of other research firms also recently issued reports on INDI. B. Riley reissued a “buy” rating and set a $13.50 price target (down previously from $14.50) on shares of indie Semiconductor in a research report on Friday. Craig Hallum lowered their price objective on indie Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $12.64.

indie Semiconductor Price Performance

Shares of INDI stock traded down $0.17 during trading on Friday, hitting $5.62. The company had a trading volume of 5,704,579 shares, compared to its average volume of 2,685,969. indie Semiconductor has a 52 week low of $4.67 and a 52 week high of $10.85. The company has a quick ratio of 1.72, a current ratio of 1.96 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average is $6.27 and its two-hundred day moving average is $6.67. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -6.48 and a beta of 1.21.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The business had revenue of $70.13 million during the quarter, compared to analyst estimates of $72.69 million. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. As a group, analysts predict that indie Semiconductor will post -0.42 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the sale, the chief executive officer now owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other indie Semiconductor news, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the sale, the chief executive officer now owns 76,750 shares in the company, valued at approximately $479,687.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Schiller sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $5.68, for a total value of $340,800.00. Following the transaction, the chief financial officer now directly owns 1,039,583 shares in the company, valued at $5,904,831.44. The disclosure for this sale can be found here. Insiders have sold a total of 173,323 shares of company stock valued at $1,081,244 over the last three months. 9.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of INDI. Nisa Investment Advisors LLC boosted its holdings in shares of indie Semiconductor by 269.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,130 shares of the company’s stock valued at $50,000 after buying an additional 4,470 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in indie Semiconductor by 40.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 6,900 shares of the company’s stock worth $56,000 after acquiring an additional 2,000 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in indie Semiconductor in the 1st quarter worth approximately $53,000. Psagot Value Holdings Ltd. Israel boosted its stake in indie Semiconductor by 24.2% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 8,258 shares of the company’s stock worth $69,000 after purchasing an additional 1,610 shares during the period. Finally, Quent Capital LLC boosted its stake in indie Semiconductor by 66.7% in the 1st quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $71,000 after purchasing an additional 4,000 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 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.