indie Semiconductor (NASDAQ:INDI) Shares Gap Up – Time to Buy?

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $3.43, but opened at $3.70. indie Semiconductor shares last traded at $3.7230, with a volume of 1,344,269 shares traded.

Wall Street Analysts Forecast Growth

INDI has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday. UBS Group set a $4.25 price objective on shares of indie Semiconductor in a research note on Sunday, February 22nd. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.45.

indie Semiconductor Stock Performance

The stock has a market cap of $818.60 million, a P/E ratio of -5.01 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. The stock’s 50 day simple moving average is $3.08 and its two-hundred day simple moving average is $3.85.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $58.01 million during the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. As a group, research analysts forecast that indie Semiconductor, Inc. will post -0.44 EPS for the current year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CFO Naixi Wu sold 55,000 shares of indie Semiconductor stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $2.81, for a total value of $154,550.00. Following the sale, the chief financial officer owned 120,787 shares of the company’s stock, valued at $339,411.47. This trade represents a 31.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Donald Mcclymont sold 90,644 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 $322,692.64. Following the completion of the sale, the chief executive officer owned 282,393 shares in the company, valued at approximately $1,005,319.08. This trade represents a 24.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 619,182 shares of company stock worth $1,906,388 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors have recently bought and sold shares of the company. Elemental Capital Partners LLC acquired a new stake in shares of indie Semiconductor in the third quarter valued at approximately $30,979,000. Vanguard Group Inc. lifted its position in shares of indie Semiconductor by 9.6% in the third quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock worth $62,203,000 after purchasing an additional 1,334,145 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in indie Semiconductor during the third quarter worth $3,931,000. Handelsbanken Fonder AB boosted its holdings in indie Semiconductor by 1,938.0% during the third quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock worth $6,429,000 after purchasing an additional 1,502,175 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in indie Semiconductor in the third quarter valued at $22,385,000. Institutional investors own 67.73% of the company’s stock.

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.