indie Semiconductor (NASDAQ:INDI) Stock Price Up 14.6% – Should You Buy?

indie Semiconductor, Inc. (NASDAQ:INDI)’s stock price was up 14.6% during trading on Friday . The company traded as high as $4.87 and last traded at $4.7890. Approximately 2,832,105 shares were traded during trading, a decline of 38% from the average daily volume of 4,597,662 shares. The stock had previously closed at $4.18.

Analyst Ratings Changes

A number of equities analysts have recently commented on INDI shares. UBS Group raised their price objective on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, indie Semiconductor has an average rating of “Hold” and an average price target of $6.92.

indie Semiconductor Stock Up 19.0%

The stock has a market capitalization of $1.11 billion, a P/E ratio of -6.55 and a beta of 2.74. The firm’s fifty day moving average is $3.42 and its 200-day moving average is $3.71. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The firm had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same period last year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that indie Semiconductor, Inc. will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In other indie Semiconductor news, President Ichiro Aoki sold 100,000 shares of the business’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $3.28, for a total value of $328,000.00. Following the completion of the transaction, the president directly owned 100,952 shares of the company’s stock, valued at approximately $331,122.56. The trade was a 49.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Donald Mcclymont sold 90,644 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $3.56, for a total transaction of $322,692.64. Following the completion of the transaction, the chief executive officer directly owned 282,393 shares of the company’s stock, valued at approximately $1,005,319.08. This represents a 24.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 912,682 shares of company stock valued at $3,129,378. Insiders own 2.57% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently modified their holdings of INDI. Royal Bank of Canada raised its stake in shares of indie Semiconductor by 309.7% in the first quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock worth $1,122,000 after acquiring an additional 416,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after buying an additional 298,339 shares during the period. Millennium Management LLC grew its position in shares of indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after buying an additional 3,037,435 shares during the period. JPMorgan Chase & Co. grew its position in shares of indie Semiconductor by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock worth $909,000 after buying an additional 13,495 shares during the period. Finally, Rhumbline Advisers grew its position in shares of indie Semiconductor by 24.3% during the 2nd quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock worth $1,065,000 after buying an additional 58,473 shares during the period. 67.73% of the stock is owned by institutional investors.

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.