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

Key Points

• Shares gapped up Friday, opening at $3.70 from $3.43 and last trading near $3.72 on ~1.34M shares, sitting above the 50‑day MA ($3.08) but below the 200‑day MA ($3.86).
• Analyst sentiment is mixed but tilted positive with a consensus Moderate Buy (4 Buys, 1 Hold, 1 Sell) and a $6.45 average target (UBS at $4.25), while Weiss Ratings maintains a sell.
• The company remains unprofitable (net margin -66.23%, last quarter EPS -$0.07; analysts see -0.44 EPS for the year), insiders sold ~619,182 shares (~$1.9M) last quarter even as institutional ownership is high at 67.73% with several large new stakes added.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report)'s stock price gapped up prior to trading 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 trading hands.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group set a $4.25 price objective on shares of indie Semiconductor in a research note on Sunday, February 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.45.

indie Semiconductor Stock Performance

The stock's 50-day moving average is $3.08 and its 200-day moving average is $3.86. The stock has a market cap of $877.87 million, a price-to-earnings ratio of -5.39 and a beta of 2.56. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.07). The firm 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 company's revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, analysts expect that indie Semiconductor, Inc. will post -0.44 EPS for the current year.

Insider Buying and Selling at indie Semiconductor

In other indie Semiconductor news, COO Michael Wittmann sold 18,750 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $2.54, for a total value 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 $330,542.90. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Ichiro Aoki sold 50,000 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $3.17, for a total transaction of $158,500.00. Following the completion of the sale, the president directly owned 100,952 shares of the company's stock, valued at $320,017.84. This trade represents a 33.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 619,182 shares of company stock worth $1,906,388 in the last quarter. Company insiders own 5.60% of the company's stock.

Institutional Trading of indie Semiconductor

Several large investors have recently bought and sold shares of INDI. Elemental Capital Partners LLC acquired a new stake in indie Semiconductor in the third quarter valued at approximately $30,979,000. Tudor Investment Corp ET AL acquired a new position in shares of indie Semiconductor in the third quarter worth about $22,385,000. Millennium Management LLC boosted its holdings in indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock valued at $7,535,000 after purchasing an additional 3,037,435 shares during the last quarter. Wasatch Advisors LP boosted its holdings in indie Semiconductor by 130.0% in the first quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company's stock valued at $12,272,000 after purchasing an additional 2,154,279 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in indie Semiconductor by 117.0% in the fourth quarter. Handelsbanken Fonder AB now owns 3,428,175 shares of the company's stock valued at $12,101,000 after purchasing an additional 1,848,489 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.