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

indie Semiconductor, Inc. (NASDAQ:INDI) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, 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 target price among brokerages that have issued a report on the stock in the last year is $6.45.

A number of research analysts recently weighed in on INDI shares. UBS Group set a $4.25 price objective on indie Semiconductor in a report on Sunday, February 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th.

indie Semiconductor Trading Up 2.8%

Shares of INDI stock opened at $2.91 on Friday. The business’s fifty day moving average price is $3.19 and its 200 day moving average price is $3.91. indie Semiconductor has a 1-year low of $1.76 and a 1-year high of $6.05. The firm has a market capitalization of $650.85 million, a PE ratio of -3.99 and a beta of 2.56. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The firm had revenue of $58.01 million for the quarter, compared to analyst estimates of $57.11 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. indie Semiconductor’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other news, President Ichiro Aoki sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $3.28, for a total value of $328,000.00. Following the completion of the transaction, the president owned 100,952 shares in the company, valued at $331,122.56. This trade represents a 49.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Wittmann sold 37,500 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $3.50, for a total value of $131,250.00. Following the completion of the transaction, the chief operating officer owned 123,885 shares of the company’s stock, valued at approximately $433,597.50. This represents a 23.24% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 612,682 shares of company stock worth $1,883,638. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Elemental Capital Partners LLC acquired a new stake in shares of indie Semiconductor during the third quarter valued at $30,979,000. Vanguard Group Inc. boosted its stake in shares of indie Semiconductor by 9.6% during the third quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after acquiring an additional 1,334,145 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of indie Semiconductor during the second quarter valued at $887,000. Bamco Inc. NY boosted its stake in shares of indie Semiconductor by 23.5% during the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after acquiring an additional 4,813,397 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in shares of indie Semiconductor during the third quarter valued at $3,931,000. Hedge funds and other 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.