Zacks: Brokerages Expect indie Semiconductor, Inc. (NASDAQ:INDI) Will Post Earnings of -$0.12 Per Share

Wall Street brokerages expect that indie Semiconductor, Inc. (NASDAQ:INDIGet Rating) will announce earnings of ($0.12) per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for indie Semiconductor’s earnings. The highest EPS estimate is ($0.11) and the lowest is ($0.12). indie Semiconductor posted earnings of ($0.30) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 60%. The business is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that indie Semiconductor will report full year earnings of ($0.46) per share for the current financial year, with EPS estimates ranging from ($0.50) to ($0.40). For the next year, analysts forecast that the business will report earnings of ($0.14) per share, with EPS estimates ranging from ($0.28) to ($0.05). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover indie Semiconductor.

indie Semiconductor (NASDAQ:INDIGet Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). indie Semiconductor had a negative net margin of 140.59% and a negative return on equity of 26.48%. The firm had revenue of $18.96 million during the quarter, compared to analysts’ expectations of $18.24 million.

Several research firms recently weighed in on INDI. B. Riley dropped their price objective on shares of indie Semiconductor from $15.00 to $9.00 in a research report on Friday, May 13th. Benchmark started coverage on shares of indie Semiconductor in a research report on Friday, May 13th. They set a “buy” rating and a $17.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their target price on shares of indie Semiconductor from $13.00 to $11.00 in a research report on Friday, May 13th. Finally, Zacks Investment Research upgraded shares of indie Semiconductor from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research report on Wednesday, May 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, indie Semiconductor currently has a consensus rating of “Buy” and a consensus price target of $13.29.

INDI stock remained flat at $$6.74 during trading on Thursday. 693,252 shares of the company traded hands, compared to its average volume of 1,270,096. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.09 and a current ratio of 3.98. The company has a 50 day simple moving average of $7.07 and a 200-day simple moving average of $9.38. indie Semiconductor has a 1 year low of $5.07 and a 1 year high of $16.33. The company has a market cap of $952.71 million, a PE ratio of -7.02 and a beta of 0.36.

In related news, CTO Scott David Kee sold 188,912 shares of the company’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $7.89, for a total value of $1,490,515.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Steven Machuga sold 17,562 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $6.81, for a total transaction of $119,597.22. Following the completion of the sale, the chief operating officer now owns 155,938 shares of the company’s stock, valued at approximately $1,061,937.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,217 shares of company stock valued at $2,388,542. 20.23% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Sycomore Asset Management boosted its stake in indie Semiconductor by 9.8% in the 4th quarter. Sycomore Asset Management now owns 280,081 shares of the company’s stock worth $3,333,000 after purchasing an additional 25,081 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in indie Semiconductor in the 4th quarter worth $6,545,000. Geode Capital Management LLC boosted its stake in indie Semiconductor by 803.3% in the 3rd quarter. Geode Capital Management LLC now owns 493,214 shares of the company’s stock worth $6,071,000 after purchasing an additional 438,611 shares during the period. Soros Fund Management LLC boosted its stake in indie Semiconductor by 75.0% in the 4th quarter. Soros Fund Management LLC now owns 3,500,000 shares of the company’s stock worth $41,965,000 after purchasing an additional 1,500,000 shares during the period. Finally, Jump Financial LLC acquired a new position in indie Semiconductor in the 3rd quarter worth $468,000. Institutional investors and hedge funds own 25.04% of the company’s stock.

About indie Semiconductor (Get Rating)

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.

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Earnings History and Estimates for indie Semiconductor (NASDAQ:INDI)

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