indie Semiconductor, Inc. (NASDAQ:INDI) to Post Q4 2023 Earnings of $0.05 Per Share, KeyCorp Forecasts

indie Semiconductor, Inc. (NASDAQ:INDI – Get Rating) – Equities researchers at KeyCorp cut their Q4 2023 earnings per share (EPS) estimates for shares of indie Semiconductor in a report released on Thursday, May 11th. KeyCorp analyst J. Vinh now anticipates that the company will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.06. KeyCorp currently has a “Overweight” rating and a $12.00 price target on the stock. The consensus estimate for indie Semiconductor’s current full-year earnings is ($0.17) per share. KeyCorp also issued estimates for indie Semiconductor’s Q2 2024 earnings at $0.06 EPS, Q3 2024 earnings at $0.07 EPS, FY2024 earnings at $0.27 EPS and FY2025 earnings at $0.81 EPS.

indie Semiconductor (NASDAQ:INDI – Get Rating) last released its earnings results on Thursday, February 16th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $33.00 million during the quarter, compared to analysts’ expectations of $32.92 million. indie Semiconductor had a negative return on equity of 19.39% and a negative net margin of 44.45%. The firm’s revenue was up 74.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) earnings per share.

A number of other analysts also recently issued reports on INDI. B. Riley increased their target price on shares of indie Semiconductor from $13.00 to $14.00 in a research report on Friday, February 17th. Benchmark restated a “buy” rating and set a $17.00 target price on shares of indie Semiconductor in a report on Tuesday, March 14th. Deutsche Bank Aktiengesellschaft increased their target price on indie Semiconductor from $10.00 to $15.00 in a research note on Friday, February 17th. Finally, TheStreet lowered indie Semiconductor from a “c” rating to a “d” rating in a research note on Thursday.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock opened at $8.38 on Monday. indie Semiconductor has a twelve month low of $5.22 and a twelve month high of $11.12. The stock has a market capitalization of $1.34 billion, a P/E ratio of -19.49 and a beta of 0.85. The company has a current ratio of 5.84, a quick ratio of 5.64 and a debt-to-equity ratio of 0.50. The business’s fifty day moving average price is $9.33 and its 200 day moving average price is $8.31.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, CFO Thomas Schiller sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $7.79, for a total transaction of $233,700.00. Following the completion of the transaction, the chief financial officer now directly owns 1,251,280 shares of the company’s stock, valued at approximately $9,747,471.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other indie Semiconductor news, CFO Thomas Schiller sold 30,000 shares of indie Semiconductor stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $7.79, for a total value of $233,700.00. Following the completion of the transaction, the chief financial officer now owns 1,251,280 shares of the company’s stock, valued at $9,747,471.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Steven Machuga sold 50,000 shares of the stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $10.35, for a total transaction of $517,500.00. Following the sale, the chief operating officer now owns 66,376 shares in the company, valued at approximately $686,991.60. The disclosure for this sale can be found here. Insiders have sold a total of 440,000 shares of company stock valued at $4,259,956 in the last three months. Corporate insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in indie Semiconductor by 3,932.6% during the 1st quarter. US Bancorp DE now owns 3,589 shares of the company’s stock worth $38,000 after acquiring an additional 3,500 shares during the period. UBS Group AG grew its position in indie Semiconductor by 384.8% in the 3rd quarter. UBS Group AG now owns 3,849 shares of the company’s stock valued at $29,000 after buying an additional 3,055 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in indie Semiconductor during the 3rd quarter valued at about $30,000. Point72 Middle East FZE acquired a new position in indie Semiconductor during the 4th quarter valued at about $28,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in indie Semiconductor during the 1st quarter valued at about $102,000. Institutional investors and hedge funds own 45.44% of the company’s stock.

indie Semiconductor Company Profile

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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.