indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Rating of “Moderate Buy” by Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.60.

A number of research analysts have recently commented on the stock. UBS Group increased their target price on shares of indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. Roth Mkm restated a “buy” rating and issued a $8.00 target price on shares of indie Semiconductor in a research report on Wednesday, October 15th. Finally, Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th.

indie Semiconductor Trading Down 3.4%

Shares of INDI stock opened at $3.96 on Tuesday. indie Semiconductor has a fifty-two week low of $1.53 and a fifty-two week high of $6.05. The stock’s fifty day moving average price is $4.02 and its two-hundred day moving average price is $4.25. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. The company has a market cap of $869.73 million, a PE ratio of -5.28 and a beta of 2.53.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $53.68 million for the quarter, compared to analyst estimates of $53.98 million. indie Semiconductor had a negative return on equity of 28.84% and a negative net margin of 66.84%.indie Semiconductor’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted ($0.09) EPS. Equities analysts predict that indie Semiconductor will post -0.54 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, CFO Naixi Wu sold 12,448 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $3.67, for a total value of $45,684.16. Following the completion of the transaction, the chief financial officer directly owned 76,969 shares in the company, valued at approximately $282,476.23. This represents a 13.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Ichiro Aoki sold 250,000 shares of indie Semiconductor stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $3.92, for a total transaction of $980,000.00. Following the transaction, the president owned 82,634 shares in the company, valued at approximately $323,925.28. This trade represents a 75.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 733,734 shares of company stock worth $2,827,441 in the last 90 days. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in indie Semiconductor by 9.0% in the second quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock valued at $142,000 after purchasing an additional 3,300 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of indie Semiconductor by 9.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock valued at $162,000 after buying an additional 3,898 shares during the period. CWM LLC increased its position in indie Semiconductor by 34.7% in the 2nd quarter. CWM LLC now owns 15,215 shares of the company’s stock valued at $54,000 after buying an additional 3,916 shares in the last quarter. Envestnet Asset Management Inc. raised its stake 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 buying an additional 3,921 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in indie Semiconductor by 27.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock worth $71,000 after buying an additional 4,207 shares during the period. Institutional investors 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.