indie Semiconductor, Inc. (NASDAQ:INDI) reported worse-than-expected first-quarter sales results on Monday.

Indie Semiconductor reported quarterly losses of 8 cents per share which met the analyst consensus estimate. The company reported quarterly sales of $54.08 million which missed the analyst consensus estimate of $54.73 million.

Indie Semiconductor said it sees second-quarter sales of $50.00 million to $53.00 million, versus market estimates of $54.73 million.

indie Semiconductor shares fell 1.5% to trade at $2.5997 on Tuesday.

These analysts made changes to their price targets on indie Semiconductor following earnings announcement.

• Benchmark analyst Cody Acree maintained Indie Semiconductor with a Buy and lowered the price target from $8 to $6.
• Keybanc analyst John Vinh maintained the stock with an Overweight rating and lowered the price target from $7 to $6.
• Craig-Hallum analyst Anthony Stoss maintained the stock with a Buy and lowered the price target from $8 to $6.

Considering buying INDI stock? Here’s what analysts think:

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