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

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

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

indie Semiconductor Stock Down 2.9 %

indie Semiconductor stock traded down $0.17 during mid-day trading on Friday, reaching $5.62. The stock had a trading volume of 5,704,579 shares, compared to its average volume of 2,685,969. indie Semiconductor has a one year low of $4.67 and a one year high of $10.85. The company has a 50-day moving average price of $6.27 and a two-hundred day moving average price of $6.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.96 and a quick ratio of 1.72. The company 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 posted its earnings results on Thursday, February 22nd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. indie Semiconductor had a negative return on equity of 15.84% and a negative net margin of 52.46%. The firm had revenue of $70.13 million during the quarter, compared to the consensus estimate of $72.69 million. On average, analysts expect that indie Semiconductor will post -0.42 EPS for the current fiscal year.

Insider Activity

In related news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the sale, the chief executive officer now directly owns 76,750 shares in the company, valued at $479,687.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the transaction, the chief executive officer now owns 76,750 shares of the company’s stock, valued at approximately $479,687.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas Schiller sold 60,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $5.68, for a total value of $340,800.00. Following the sale, the chief financial officer now owns 1,039,583 shares in the company, valued at approximately $5,904,831.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,323 shares of company stock valued at $1,081,244. Insiders own 9.90% of the company’s stock.

Institutional Trading of indie Semiconductor

A number of hedge funds have recently modified their holdings of INDI. Commonwealth Equity Services LLC increased its stake in indie Semiconductor by 7.1% in the third quarter. Commonwealth Equity Services LLC now owns 43,459 shares of the company’s stock worth $274,000 after purchasing an additional 2,868 shares during the period. Raymond James & Associates lifted its stake in shares of indie Semiconductor by 213.0% in the 3rd quarter. Raymond James & Associates now owns 101,197 shares of the company’s stock valued at $638,000 after purchasing an additional 68,866 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in indie Semiconductor by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 456,337 shares of the company’s stock worth $2,875,000 after purchasing an additional 18,235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of indie Semiconductor by 16.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,781 shares of the company’s stock valued at $156,000 after purchasing an additional 3,496 shares during the period. Finally, General American Investors Co. Inc. acquired a new stake in indie Semiconductor during the 3rd quarter worth approximately $5,891,000. Institutional investors own 67.73% of the company’s stock.

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.