indie Semiconductor, Inc. (NASDAQ:INDI) Receives $6.45 Average Target Price from Brokerages

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.45.

INDI has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. UBS Group set a $4.25 price objective on indie Semiconductor in a research note on Sunday, February 22nd. Finally, Wall Street Zen downgraded indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th.

indie Semiconductor Price Performance

Shares of INDI stock opened at $2.93 on Wednesday. The firm has a fifty day simple moving average of $3.53 and a 200-day simple moving average of $3.98. The company has a market capitalization of $655.32 million, a PE ratio of -4.01 and a beta of 2.55. indie Semiconductor has a twelve month low of $1.53 and a twelve month high of $6.05. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The firm 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 29.33%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. Equities research analysts anticipate that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Activity at indie Semiconductor

In related news, President Ichiro Aoki sold 50,000 shares of indie Semiconductor stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.57, for a total value of $128,500.00. Following the completion of the sale, the president owned 100,952 shares in the company, valued at approximately $259,446.64. The trade was a 33.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Wittmann sold 18,750 shares of indie Semiconductor stock in a transaction on Monday, March 9th. The stock was sold at an average price of $2.54, for a total transaction of $47,625.00. Following the completion of the sale, the chief operating officer owned 130,135 shares of the company’s stock, valued at approximately $330,542.90. This trade represents a 12.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 393,066 shares of company stock worth $1,283,563 over the last three months. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of INDI. Elemental Capital Partners LLC bought a new position in shares of indie Semiconductor during the third quarter worth about $30,979,000. Tudor Investment Corp ET AL bought a new stake in indie Semiconductor in the third quarter valued at about $22,385,000. Bamco Inc. NY increased its holdings in 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 buying an additional 4,813,397 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in indie Semiconductor by 29.9% during the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock valued at $63,940,000 after buying an additional 4,139,349 shares in the last quarter. Finally, Millennium Management LLC raised its stake in indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after buying an additional 3,037,435 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

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.