indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Recommendation of “Hold” by Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been assigned a consensus rating of “Hold” from the four analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.9167.

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Naixi Wu sold 55,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $2.81, for a total transaction of $154,550.00. Following the sale, the chief financial officer owned 120,787 shares in the company, valued at $339,411.47. This represents a 31.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Ichiro Aoki sold 100,000 shares of the stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $3.28, for a total transaction of $328,000.00. Following the sale, the president owned 100,952 shares in the company, valued at approximately $331,122.56. The trade was a 49.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 912,682 shares of company stock valued at $3,129,378. Corporate insiders own 2.57% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors have recently made changes to their positions in the company. Elemental Capital Partners LLC purchased a new stake in shares of indie Semiconductor during the third quarter valued at approximately $30,979,000. Vanguard Group Inc. grew its holdings in shares of indie Semiconductor by 9.6% during the third quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after buying an additional 1,334,145 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in shares of indie Semiconductor during the third quarter valued at approximately $3,931,000. Handelsbanken Fonder AB grew its holdings in shares of indie Semiconductor by 1,938.0% during the third quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock valued at $6,429,000 after buying an additional 1,502,175 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of indie Semiconductor during the third quarter valued at approximately $22,385,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Price Performance

Shares of NASDAQ INDI opened at $4.51 on Thursday. indie Semiconductor has a fifty-two week low of $2.29 and a fifty-two week high of $6.05. The company has a 50 day simple moving average of $3.25 and a two-hundred day simple moving average of $3.77. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -5.93 and a beta of 2.74. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.10 and a current ratio of 4.11.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The business had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts expect that indie Semiconductor will post -0.44 EPS for the current fiscal 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.