Indie Semiconductor price target raised to $8 from $6 at Roth Capital

Roth Capital raised the firm’s price target on Indie Semiconductor (INDI) to $8 from $6 and keeps a Buy rating on the shares after the company announced a new laser product from its photonics business unit that targets both the automotive and quantum computing markets. The firm believes Indie’s product is differentiated and presents content growth opportunity in the emerging quantum computing space. With emerging incremental opportunity in photonics and across quantum-related end opportunities, Roth’s confidence in forward growth only increases from its baseline, the analyst tells investors in a research note.