indie Semiconductor (NASDAQ:INDI) Price Target Lowered to $11.00 at Deutsche Bank Aktiengesellschaft

indie Semiconductor (NASDAQ:INDIGet Rating) had its price target cut by Deutsche Bank Aktiengesellschaft from $13.00 to $11.00 in a report released on Friday, The Fly reports.

A number of other research firms also recently weighed in on INDI. Zacks Investment Research raised indie Semiconductor from a hold rating to a buy rating and set a $6.75 price target on the stock in a research note on Wednesday. B. Riley dropped their price target on indie Semiconductor from $22.00 to $15.00 in a research note on Thursday, February 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $13.29.

Shares of NASDAQ:INDI traded up $1.54 during midday trading on Friday, reaching $6.94. The company’s stock had a trading volume of 3,609,414 shares, compared to its average volume of 1,120,083. The firm has a market capitalization of $902.69 million, a price-to-earnings ratio of -7.23 and a beta of 0.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.09 and a current ratio of 7.36. The firm has a 50 day moving average price of $7.12 and a two-hundred day moving average price of $9.51. indie Semiconductor has a fifty-two week low of $5.07 and a fifty-two week high of $16.33.

indie Semiconductor (NASDAQ:INDIGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $18.96 million for the quarter, compared to analyst estimates of $18.24 million. As a group, research analysts anticipate that indie Semiconductor will post -0.46 earnings per share for the current year.

In other indie Semiconductor news, COO Steven Machuga sold 8,699 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $7.30, for a total transaction of $63,502.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Scott David Kee sold 188,912 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $7.89, for a total value of $1,490,515.68. The disclosure for this sale can be found here. Insiders have sold a total of 295,655 shares of company stock valued at $2,268,945 over the last three months. Corporate insiders own 20.23% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new position in shares of indie Semiconductor in the third quarter valued at approximately $25,000. Samalin Investment Counsel LLC bought a new position in shares of indie Semiconductor in the fourth quarter valued at approximately $25,000. Harbour Investments Inc. grew its holdings in shares of indie Semiconductor by 579.0% in the fourth quarter. Harbour Investments Inc. now owns 2,974 shares of the company’s stock valued at $36,000 after acquiring an additional 2,536 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of indie Semiconductor by 470.6% in the third quarter. Rockefeller Capital Management L.P. now owns 4,850 shares of the company’s stock valued at $59,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Caption Management LLC bought a new position in shares of indie Semiconductor in the third quarter valued at approximately $75,000. 25.04% of the stock is owned by institutional investors.

About indie Semiconductor (Get Rating)

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.

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