indie Semiconductor, Inc. (NASDAQ:INDI) Receives $6.60 Consensus PT from Analysts

indie Semiconductor, Inc. (NASDAQ:INDI) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $6.45.

Several brokerages have recently issued reports on INDI. Wall Street Zen lowered indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, UBS Group set a $4.25 target price on shares of indie Semiconductor in a research report on Sunday.

indie Semiconductor Stock Down 5.2%

INDI stock opened at $3.44 on Friday. The company has a 50 day moving average of $3.92 and a two-hundred day moving average of $4.22. The company has a market cap of $755.53 million, a price-to-earnings ratio of -4.71 and a beta of 2.53. indie Semiconductor has a 12-month low of $1.53 and a 12-month high of $6.05. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 28.81%. indie Semiconductor’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) earnings per share. On average, equities analysts anticipate that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CFO Naixi Wu sold 12,448 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $3.67, for a total transaction of $45,684.16. Following the transaction, the chief financial officer directly owned 76,969 shares of the company’s stock, valued at $282,476.23. This represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Wittmann sold 15,313 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $3.67, for a total value of $56,198.71. Following the completion of the sale, the chief operating officer directly owned 111,385 shares of the company’s stock, valued at $408,782.95. This represents a 12.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 296,377 shares of company stock valued at $1,148,283. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Large investors have recently added to or reduced their stakes in the stock. Elemental Capital Partners LLC acquired a new position in indie Semiconductor in the 3rd quarter valued at approximately $30,979,000. Handelsbanken Fonder AB bought a new stake in shares of indie Semiconductor during the second quarter valued at approximately $276,000. Caxton Associates LLP bought a new stake in shares of indie Semiconductor during the second quarter valued at approximately $887,000. Bamco Inc. NY raised its stake in shares of indie Semiconductor by 23.5% in the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after purchasing an additional 4,813,397 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in indie Semiconductor by 9.5% in the second quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock worth $16,285,000 after purchasing an additional 396,433 shares during the period. Institutional investors own 67.73% of the company’s stock.

About indie Semiconductor

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.