indie Semiconductor, Inc. (NASDAQ:INDI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.45.

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. UBS Group set a $4.25 price target on shares of indie Semiconductor in a report on Sunday, February 22nd. 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

Shares of NASDAQ:INDI opened at $2.62 on Wednesday. The company’s fifty day moving average is $3.66 and its two-hundred day moving average is $4.04. The company has a market cap of $575.43 million, a P/E ratio of -3.59 and a beta of 2.55. indie Semiconductor has a 12-month low of $1.53 and a 12-month high of $6.05. The company has a quick ratio of 3.10, a current ratio of 3.73 and a debt-to-equity ratio of 0.88.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.indie Semiconductor’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. Equities analysts expect that indie Semiconductor will post -0.54 earnings per share for the current fiscal year.

Insider Activity at indie Semiconductor

In related news, COO Michael Wittmann sold 18,750 shares of indie Semiconductor stock in a transaction on Monday, March 9th. The stock was sold at an average price of $2.54, for a total transaction of $47,625.00. Following the completion of the sale, the chief operating officer owned 130,135 shares of the company’s stock, valued at approximately $330,542.90. This trade represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Naixi Wu sold 17,162 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $3.56, for a total value of $61,096.72. Following the completion of the transaction, the chief financial officer owned 76,969 shares in the company, valued at $274,009.64. This trade represents a 18.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 299,420 shares of company stock worth $1,052,589. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in INDI. HBK Sorce Advisory LLC acquired a new position in indie Semiconductor in the third quarter worth approximately $41,000. Evergreen Capital Management LLC bought a new position in shares of indie Semiconductor during the 2nd quarter valued at $37,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after purchasing an additional 10,999 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of indie Semiconductor in the 2nd quarter valued at $39,000. Finally, Gainplan LLC bought a new stake in indie Semiconductor in the fourth quarter worth $39,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.