Zacks: Brokerages Anticipate indie Semiconductor, Inc. (NASDAQ:INDI) Will Announce Quarterly Sales of $21.53 Million

Equities research analysts predict that indie Semiconductor, Inc. (NASDAQ:INDI – Get Rating) will report sales of $21.53 million for the current quarter, Zacks reports. Four analysts have provided estimates for indie Semiconductor’s earnings, with the highest sales estimate coming in at $21.60 million and the lowest estimate coming in at $21.50 million. The firm is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that indie Semiconductor will report full year sales of $111.87 million for the current fiscal year, with estimates ranging from $109.00 million to $114.50 million. For the next year, analysts expect that the company will report sales of $238.24 million, with estimates ranging from $230.20 million to $246.57 million. Zacks’ sales calculations are an average based on a survey of research firms that follow indie Semiconductor.

indie Semiconductor (NASDAQ:INDI – Get Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The company had revenue of $18.96 million for the quarter, compared to the consensus estimate of $18.24 million.

Several equities analysts have weighed in on INDI shares. Zacks Investment Research upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, April 2nd. B. Riley decreased their target price on indie Semiconductor from $22.00 to $15.00 in a research report on Thursday, February 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Buy” and a consensus price target of $15.35.

NASDAQ:INDI traded down $0.32 during trading hours on Friday, hitting $6.75. 823,561 shares of the company traded hands, compared to its average volume of 1,092,094. The firm’s 50-day simple moving average is $7.63 and its 200-day simple moving average is $10.17. indie Semiconductor has a one year low of $6.45 and a one year high of $16.33. The company has a market cap of $877.97 million, a PE ratio of 1.97 and a beta of 0.26.

In related news, CTO Scott David Kee sold 188,912 shares of indie Semiconductor stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $7.89, for a total value of $1,490,515.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sonalee Elizabeth Parekh sold 10,748 shares of indie Semiconductor stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $7.93, for a total value of $85,231.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,403 shares of company stock valued at $2,354,177. Insiders own 20.23% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in INDI. Bamco Inc. NY grew its holdings in indie Semiconductor by 183.0% during the 3rd quarter. Bamco Inc. NY now owns 4,920,761 shares of the company’s stock valued at $60,575,000 after buying an additional 3,181,687 shares in the last quarter. State Street Corp grew its holdings in indie Semiconductor by 2,147.6% during the 4th quarter. State Street Corp now owns 3,555,691 shares of the company’s stock valued at $42,633,000 after buying an additional 3,397,491 shares in the last quarter. Soros Fund Management LLC grew its holdings in indie Semiconductor by 75.0% during the 4th quarter. Soros Fund Management LLC now owns 3,500,000 shares of the company’s stock valued at $41,965,000 after buying an additional 1,500,000 shares in the last quarter. BlackRock Inc. grew its holdings in indie Semiconductor by 32.9% during the 4th quarter. BlackRock Inc. now owns 885,966 shares of the company’s stock valued at $10,624,000 after buying an additional 219,213 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in indie Semiconductor by 1.5% during the 4th quarter. Primecap Management Co. CA now owns 789,000 shares of the company’s stock valued at $9,460,000 after buying an additional 11,800 shares in the last quarter. 26.41% of the stock is owned by institutional investors.

indie Semiconductor Company Profile (Get Rating)

indie Semiconductor, Inc provides automotive semiconductors and software solutions. It offers its solution for advanced driver assistance systems, including light detection and ranging, connected car, user experience, and electrification applications. The company was founded in 2007 and is headquartered in Aliso Viejo, California.

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