indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Rating of “Moderate Buy” by Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI) has received an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $6.45.

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

Insiders Place Their Bets

In other news, CEO Donald Mcclymont sold 100,000 shares of the firm’s 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 completion of the sale, the chief executive officer owned 48,130 shares of the company’s stock, valued at approximately $196,851.70. This trade represents a 67.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Ichiro Aoki sold 7,188 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $3.67, for a total transaction of $26,379.96. Following the completion of the sale, the president directly owned 94,725 shares in the company, valued at $347,640.75. This represents a 7.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 296,377 shares of company stock worth $1,148,283. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Large investors have recently modified their holdings of the stock. Elemental Capital Partners LLC bought a new stake in indie Semiconductor in the third quarter valued at about $30,979,000. Tudor Investment Corp ET AL bought a new stake in shares of indie Semiconductor in the 3rd quarter valued at approximately $22,385,000. Bamco Inc. NY raised its position in shares of indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after acquiring an additional 4,813,397 shares in the last quarter. Frontier Capital Management Co. LLC lifted 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 worth $63,940,000 after purchasing an additional 4,139,349 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after purchasing an additional 3,037,435 shares during the period. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Trading Up 2.0%

Shares of INDI opened at $3.60 on Friday. indie Semiconductor has a 12 month low of $1.53 and a 12 month high of $6.05. The stock’s 50-day moving average is $3.91 and its two-hundred day moving average is $4.21. 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 cap of $790.67 million, a PE ratio of -4.93 and a beta of 2.53.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $58.01 million during the quarter, compared to analyst estimates of $57.11 million. indie Semiconductor had a negative return on equity of 28.81% and a negative net margin of 66.23%.The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. Equities analysts forecast that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

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.