indie Semiconductor (NASDAQ:INDI) Trading 7.8% Higher – What’s Next?

indie Semiconductor, Inc. (NASDAQ:INDI)’s share price rose 7.8% during trading on Tuesday . The stock traded as high as $3.98 and last traded at $3.9450. Approximately 1,087,837 shares changed hands during trading, a decline of 49% from the average daily volume of 2,120,958 shares. The stock had previously closed at $3.66.

Analyst Upgrades and Downgrades

INDI has been the subject of a number of research reports. Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. UBS Group boosted their price target on shares of indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, November 10th. Roth Capital reaffirmed a “buy” rating and issued a $8.00 price target on shares of indie Semiconductor in a research report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Wednesday, October 8th. Five equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.60.

indie Semiconductor Stock Down 4.2%

The firm has a market capitalization of $852.16 million, a P/E ratio of -5.17 and a beta of 2.54. 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 business’s fifty day moving average price is $3.98 and its two-hundred day moving average price is $4.19.

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

Insider Transactions at indie Semiconductor

In related news, CEO Donald Mcclymont sold 200,000 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $6.01, for a total transaction of $1,202,000.00. Following the transaction, the chief executive officer directly owned 135,602 shares in the company, valued at $814,968.02. The trade was a 59.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Wittmann sold 37,500 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $3.74, for a total value of $140,250.00. Following the transaction, the chief operating officer directly owned 94,005 shares in the company, valued at $351,578.70. This represents a 28.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 933,734 shares of company stock valued at $4,029,441. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

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