Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) Target Price at $6.60

indie Semiconductor, Inc. (NASDAQ:INDI) has earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, 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 target price among brokerages that have covered the stock in the last year is $6.60.

Several analysts have weighed in on INDI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Roth Mkm reaffirmed a “buy” rating and issued a $8.00 target price on shares of indie Semiconductor in a research note on Wednesday, October 15th. Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, UBS Group increased their price target on shares of indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a report on Monday, November 10th.

Insider Transactions at indie Semiconductor

In related news, President Ichiro Aoki sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $3.92, for a total value of $980,000.00. Following the completion of the sale, the president owned 82,634 shares in the company, valued at $323,925.28. The trade was a 75.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Donald Mcclymont sold 100,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $4.09, for a total transaction of $409,000.00. Following the transaction, the chief executive officer owned 48,130 shares in the company, valued at $196,851.70. The trade was a 67.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 733,734 shares of company stock worth $2,827,441 in the last three months. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC raised its position in indie Semiconductor by 9.0% in the 2nd quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock worth $142,000 after purchasing an additional 3,300 shares during the period. Los Angeles Capital Management LLC boosted its position in indie Semiconductor by 9.3% during the second quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock valued at $162,000 after buying an additional 3,898 shares during the period. CWM LLC grew its stake in shares of indie Semiconductor by 34.7% during the second quarter. CWM LLC now owns 15,215 shares of the company’s stock valued at $54,000 after buying an additional 3,916 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of indie Semiconductor by 32.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after buying an additional 3,921 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of indie Semiconductor by 27.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock valued at $71,000 after acquiring an additional 4,207 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Stock Down 0.7%

Shares of NASDAQ INDI opened at $4.29 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.75 and a quick ratio of 3.18. The stock has a market capitalization of $942.21 million, a PE ratio of -5.72 and a beta of 2.54. indie Semiconductor has a one year low of $1.53 and a one year high of $6.05. The business’s fifty day moving average price is $3.99 and its 200-day moving average price is $4.26.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $53.68 million for the quarter, compared to the consensus estimate of $53.98 million. indie Semiconductor had a negative return on equity of 28.84% and a negative net margin of 66.84%.indie Semiconductor’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) EPS. On average, equities research analysts anticipate that indie Semiconductor will post -0.54 EPS for the current year.

indie Semiconductor Company Profile

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.