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

indie Semiconductor, Inc. (NASDAQ:INDI) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $6.60.

INDI has been the topic of several recent analyst reports. Roth Mkm restated a “buy” rating and set a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday. UBS Group lifted their price objective on shares of indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th.

indie Semiconductor Stock Performance

INDI opened at $4.48 on Tuesday. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86. The firm has a market cap of $983.94 million, a PE ratio of -5.97 and a beta of 2.54. The business has a fifty day simple moving average of $3.93 and a 200-day simple moving average of $4.25. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last announced its 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). indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The company had revenue of $53.68 million for the quarter, compared to analysts’ expectations of $53.98 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other indie Semiconductor news, COO Michael Wittmann sold 15,313 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $3.67, for a total value of $56,198.71. Following the completion of the sale, the chief operating officer owned 111,385 shares in the company, valued at $408,782.95. This represents a 12.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ichiro Aoki sold 7,188 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $3.67, for a total value of $26,379.96. Following the sale, the president owned 94,725 shares of the company’s stock, valued at approximately $347,640.75. This represents a 7.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 733,734 shares of company stock valued at $2,827,441 in the last 90 days. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in indie Semiconductor by 309.7% during the first quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after acquiring an additional 416,519 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after purchasing an additional 298,339 shares during the last quarter. Millennium Management LLC increased its stake in shares of indie Semiconductor by 456.6% during the 1st 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 last quarter. Ballentine Partners LLC bought a new position in shares of indie Semiconductor during the 2nd quarter valued at $69,000. Finally, Signaturefd LLC raised its holdings in shares of indie Semiconductor by 145.7% during the 2nd quarter. Signaturefd LLC now owns 11,457 shares of the company’s stock valued at $41,000 after purchasing an additional 6,794 shares in the last quarter. Institutional investors and hedge funds 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.