indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Rating of “Moderate Buy” from Analysts

indie Semiconductor, Inc. (NASDAQ:INDI) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $6.60.

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Wednesday, October 8th. UBS Group boosted their price objective on indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. Finally, Roth Capital reissued a “buy” rating and set a $8.00 target price on shares of indie Semiconductor in a report on Wednesday, October 15th.

indie Semiconductor Stock Down 1.1%

Shares of INDI opened at $3.53 on Friday. The firm has a market cap of $775.29 million, a P/E ratio of -4.71 and a beta of 2.54. 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 $4.15 and its two-hundred day moving average is $4.17. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $53.68 million during the quarter, compared to analysts’ expectations 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 was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. Analysts predict that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 37,500 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $3.74, for a total value of $140,250.00. Following the transaction, the chief operating officer owned 94,005 shares in the company, valued at approximately $351,578.70. This trade represents a 28.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Ichiro Aoki sold 250,000 shares of indie Semiconductor stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $3.92, for a total transaction of $980,000.00. Following the sale, the president directly owned 82,634 shares in the company, valued at approximately $323,925.28. This trade represents a 75.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 815,828 shares of company stock valued at $3,596,726 in the last 90 days. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of INDI. ProShare Advisors LLC raised its holdings in indie Semiconductor by 9.0% in the 2nd quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock valued at $142,000 after acquiring an additional 3,300 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of indie Semiconductor by 9.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock worth $162,000 after purchasing an additional 3,898 shares during the last quarter. CWM LLC grew its position in shares of indie Semiconductor by 34.7% in the second quarter. CWM LLC now owns 15,215 shares of the company’s stock valued at $54,000 after purchasing an additional 3,916 shares in 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 valued at $66,000 after purchasing an additional 3,921 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of indie Semiconductor by 27.0% in the second quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock valued at $71,000 after purchasing an additional 4,207 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.