indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Recommendation of “Hold” by Brokerages

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been given an average rating of “Hold” by the five brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.9167.

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

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $4.02 on Wednesday. indie Semiconductor has a 1 year low of $2.32 and a 1 year high of $6.05. The firm’s fifty day simple moving average is $3.95 and its 200 day simple moving average is $3.76. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $912.14 million, a PE ratio of -5.29 and a beta of 2.73.

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

Insider Activity at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 300,562 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $5.18, for a total value of $1,556,911.16. Following the completion of the sale, the president directly owned 107,148 shares of the company’s stock, valued at $555,026.64. This represents a 73.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald Mcclymont sold 9,425 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $5.12, for a total transaction of $48,256.00. Following the completion of the sale, the chief executive officer directly owned 307,363 shares of the company’s stock, valued at approximately $1,573,698.56. This trade represents a 2.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,949,552 shares of company stock valued at $8,781,705 in the last quarter. Company insiders own 2.57% of the company’s stock.

Institutional Trading of indie Semiconductor

Hedge funds have recently bought and sold shares of the stock. Optiver Holding B.V. boosted its holdings in indie Semiconductor by 7,163.7% in the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock valued at $26,000 after purchasing an additional 8,095 shares during the period. Principal Financial Group Inc. bought a new stake in indie Semiconductor in the 1st quarter valued at $35,000. Evergreen Capital Management LLC bought a new stake in indie Semiconductor in the 2nd quarter valued at $37,000. Gainplan LLC bought a new stake in indie Semiconductor in the 4th quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in indie Semiconductor by 45,829.2% in the 4th 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 period. 67.73% of the stock is owned by institutional investors.

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.