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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $6.60.

INDI has been the subject of a number of research analyst reports. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. UBS Group upped their price objective on shares of indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Wednesday, October 8th. Finally, Roth Capital reiterated a “buy” rating and issued a $8.00 target price on shares of indie Semiconductor in a research note on Wednesday, October 15th.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 37,500 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $3.74, for a total transaction of $140,250.00. Following the sale, the chief operating officer owned 94,005 shares in the company, valued at approximately $351,578.70. The trade was a 28.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Mcclymont sold 100,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $4.09, for a total value of $409,000.00. Following the sale, the chief executive officer owned 48,130 shares in the company, valued at approximately $196,851.70. The trade was a 67.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 815,828 shares of company stock valued at $3,596,726. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of INDI. Handelsbanken Fonder AB purchased a new stake in indie Semiconductor during the second quarter worth $276,000. Fred Alger Management LLC acquired a new position in shares of indie Semiconductor in the first quarter worth about $2,527,000. Caxton Associates LLP purchased a new stake in shares of indie Semiconductor during the 2nd quarter worth about $887,000. Bamco Inc. NY boosted its stake in shares of indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after acquiring an additional 4,813,397 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of indie Semiconductor by 9.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock valued at $16,285,000 after acquiring an additional 396,433 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Down 1.1%

NASDAQ:INDI opened at $3.53 on Friday. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $6.05. The stock has a market capitalization of $775.29 million, a P/E ratio of -4.71 and a beta of 2.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. The company’s 50-day simple moving average is $4.15 and its 200-day simple moving average is $4.17.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data 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 return on equity of 28.84% and a negative net margin of 66.84%.The firm had revenue of $53.68 million for the quarter, compared to the consensus estimate of $53.98 million. During the same quarter last year, the firm earned ($0.09) EPS. The company’s revenue was down .6% compared to the same quarter last year. On average, equities analysts anticipate that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

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.