indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give indie Semiconductor a consensus "Moderate Buy" (6 firms: 4 buys, 1 hold, 1 sell) with an average 12‑month price target of $6.45.
• The company reported Q results of ($0.07) EPS
• Insiders have been net sellers recently: CEO and President sold sizable stakes and insiders sold a total of 862,682 shares (~$2.89M) over the last three months, leaving insiders with 2.57% ownership.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.45.

Several research analysts recently commented on INDI shares. UBS Group set a $4.25 price target on indie Semiconductor in a research report on Sunday, February 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st.

indie Semiconductor Stock Down 0.4%

NASDAQ:INDI opened at $4.59 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. The company has a market cap of $1.03 billion, a PE ratio of -6.29 and a beta of 2.74. indie Semiconductor has a 52-week low of $2.03 and a 52-week high of $6.05. The stock has a 50-day simple moving average of $3.16 and a 200 day simple moving average of $3.81.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $57.11 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. The business's quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts expect that indie Semiconductor will post -0.44 EPS for the current fiscal year.

Insider Activity

In other news, CEO Donald Mcclymont sold 18,420 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $2.99, for a total value of $55,075.80. Following the completion of the sale, the chief executive officer directly owned 298,500 shares of the company's stock, valued at $892,515. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Ichiro Aoki sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $4.40, for a total value of $440,000.00. Following the completion of the sale, the president directly owned 106,169 shares of the company's stock, valued at approximately $467,143.60. The trade was a 48.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 862,682 shares of company stock valued at $2,890,378 over the last three months. Insiders own 2.57% of the company's stock.

Institutional Trading of indie Semiconductor

A number of hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its holdings in indie Semiconductor by 32.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company's stock worth $66,000 after purchasing an additional 3,921 shares during the last quarter. Cetera Investment Advisers lifted its holdings in indie Semiconductor by 20.5% during the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company's stock worth $91,000 after purchasing an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in indie Semiconductor by 33.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company's stock worth $68,000 after purchasing an additional 4,763 shares during the last quarter. Abel Hall LLC lifted its holdings in indie Semiconductor by 42.3% during the 4th quarter. Abel Hall LLC now owns 16,934 shares of the company's stock worth $60,000 after purchasing an additional 5,030 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in indie Semiconductor by 1.9% during the 4th quarter. Verition Fund Management LLC now owns 268,590 shares of the company's stock worth $948,000 after purchasing an additional 5,055 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.

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