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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.60.

A number of research analysts recently issued reports on INDI shares. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday. UBS Group boosted their price target 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. Roth Mkm reaffirmed a “buy” rating and issued a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday, October 15th. Finally, Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th.

indie Semiconductor Price 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 company’s 50-day moving average price is $3.93 and its 200 day moving average price is $4.25. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $6.05. The firm has a market cap of $983.94 million, a price-to-earnings ratio of -5.97 and a beta of 2.54.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $53.68 million during the quarter, compared to analyst estimates of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. As a group, sell-side analysts expect that indie Semiconductor will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Michael Wittmann sold 37,500 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $3.74, for a total value of $140,250.00. Following the completion of the transaction, the chief operating officer owned 94,005 shares of the company’s stock, valued at approximately $351,578.70. This represents a 28.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Donald Mcclymont sold 100,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $4.09, for a total value of $409,000.00. Following the transaction, the chief executive officer directly owned 48,130 shares in the company, valued at $196,851.70. This trade represents a 67.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 733,734 shares of company stock valued at $2,827,441. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bouvel Investment Partners LLC raised its position in shares of indie Semiconductor by 51.6% during the 4th quarter. Bouvel Investment Partners LLC now owns 289,498 shares of the company’s stock worth $1,022,000 after buying an additional 98,586 shares in the last quarter. Gainplan LLC acquired a new stake in indie Semiconductor in the fourth quarter worth approximately $39,000. Register Financial Advisors LLC boosted its stake in indie Semiconductor by 7.2% during the 4th quarter. Register Financial Advisors LLC now owns 494,428 shares of the company’s stock valued at $1,745,000 after purchasing an additional 33,400 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of indie Semiconductor by 2.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 961,988 shares of the company’s stock valued at $3,396,000 after purchasing an additional 27,556 shares during the period. Finally, Elemental Capital Partners LLC grew its holdings in indie Semiconductor by 3.8% during the fourth quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock worth $27,897,000 after acquiring an additional 291,111 shares during the period. Institutional investors 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.