indie Semiconductor (NASDAQ:INDI) Trading 8.3% Higher - Time to Buy?

Key Points

• indie Semiconductor shares rose 8.3% to about $4.34, with trading volume 15% above average. The stock is trading above its 50-day and 200-day moving averages.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a $4.75 price target. Targets range from $4.50 to $5.00, while ratings include one Buy, two Holds and one Sell.
• Recent results showed revenue rising 24% year over year to $64.01 million, exceeding estimates, while adjusted loss per share matched expectations at $0.05. However, the company remains unprofitable, and insiders sold roughly 1.44 million shares worth $7.26 million over the past three months.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) rose 8.3% on Thursday . The stock traded as high as $4.17 and last traded at $4.3440. 5,981,073 shares were traded during mid-day trading, an increase of 15% from the average session volume of 5,184,850 shares. The stock had previously closed at $4.01.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group raised their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a "neutral" rating in a report on Friday, May 8th. Wall Street Zen raised shares of indie Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. TD Cowen increased their target price on shares of indie Semiconductor from $4.00 to $4.50 and gave the company a "hold" rating in a research report on Monday, July 13th. Roth Capital set a $5.00 price target on shares of indie Semiconductor in a research note on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $4.75.

indie Semiconductor Trading Up 3.6%

The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The company's 50-day moving average is $3.92 and its 200-day moving average is $3.75. The stock has a market capitalization of $942.77 million, a price-to-earnings ratio of -5.69 and a beta of 2.79.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 30.89%. The company had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. During the same period in the previous year, the business posted ($0.08) EPS. indie Semiconductor's revenue was up 24.0% on a year-over-year basis. Research analysts anticipate that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other indie Semiconductor news, CEO Donald Mcclymont sold 126,496 shares of indie Semiconductor stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $4.45, for a total value of $562,907.20. Following the sale, the chief executive officer owned 424,617 shares in the company, valued at $1,889,545.65. The trade was a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Naixi Wu sold 19,640 shares of the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $4.37, for a total value of $85,826.80. Following the completion of the transaction, the chief financial officer directly owned 134,425 shares in the company, valued at approximately $587,437.25. This trade represents a 12.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,440,456 shares of company stock worth $7,262,613 in the last three months. 2.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position in shares of indie Semiconductor by 32.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company's stock valued at $66,000 after buying an additional 3,921 shares in the last quarter. Cetera Investment Advisers grew its stake in indie Semiconductor by 20.5% in the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company's stock valued at $91,000 after acquiring an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in indie Semiconductor by 33.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company's stock valued at $68,000 after acquiring an additional 4,763 shares during the last quarter. Abel Hall LLC increased 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 valued at $60,000 after acquiring an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC increased 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 valued at $948,000 after acquiring an additional 5,055 shares in the last quarter. Institutional investors and hedge funds 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.

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