indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Recommendation of “Hold” from Analysts

indie Semiconductor, Inc. (NASDAQ:INDI) has been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.9167.

Several research analysts have weighed in on INDI shares. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. TD Cowen began coverage on indie Semiconductor in a report on Wednesday. They issued a “hold” rating on the stock. Finally, UBS Group increased their price objective on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Naixi Wu sold 55,000 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $2.81, for a total transaction of $154,550.00. Following the transaction, the chief financial officer owned 120,787 shares in the company, valued at $339,411.47. This represents a 31.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Ichiro Aoki sold 454,900 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.28, for a total transaction of $2,401,872.00. Following the transaction, the president owned 106,169 shares in the company, valued at approximately $560,572.32. This trade represents a 81.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,949,552 shares of company stock worth $8,781,705. 2.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of INDI. Optiver Holding B.V. increased its stake in shares of indie Semiconductor by 7,163.7% during the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after purchasing an additional 8,095 shares during the last quarter. Principal Financial Group Inc. acquired a new position in indie Semiconductor during the first quarter valued at approximately $35,000. Evergreen Capital Management LLC acquired a new position in indie Semiconductor during the second quarter valued at approximately $37,000. Gainplan LLC acquired a new position in indie Semiconductor during the fourth quarter valued at approximately $39,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after purchasing an additional 10,999 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Down 10.1%

indie Semiconductor stock opened at $4.02 on Wednesday. The firm has a market cap of $912.14 million, a PE ratio of -5.29 and a beta of 2.73. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. The firm’s 50 day moving average price is $3.95 and its two-hundred day moving average price is $3.76. indie Semiconductor has a twelve month low of $2.32 and a twelve month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS. On average, research analysts predict that indie Semiconductor will post -0.52 EPS for the current fiscal year.

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.