indie Semiconductor (NASDAQ:INDI) Shares Up 10.7% – Time to Buy?

indie Semiconductor, Inc. (NASDAQ:INDI) shares traded up 10.7% during mid-day trading on Monday . The stock traded as high as $4.82 and last traded at $4.7950. 2,297,377 shares were traded during trading, a decline of 55% from the average session volume of 5,080,692 shares. The stock had previously closed at $4.33.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group boosted 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. TD Cowen began coverage on shares of indie Semiconductor in a research report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.58.

indie Semiconductor Trading Up 5.0%

The firm has a market capitalization of $981.34 million, a P/E ratio of -5.60 and a beta of 2.75. The business’s 50 day moving average is $4.32 and its two-hundred day moving average is $3.78. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, May 7th. The company reported ($0.06) 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 for the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter last year, the company earned ($0.08) EPS. indie Semiconductor’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts expect that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Insider Activity at indie Semiconductor

In related news, President Ichiro Aoki sold 454,900 shares of the business’s stock in a transaction that occurred 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 sale, the president owned 106,169 shares of the company’s stock, valued at $560,572.32. The trade was a 81.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald Mcclymont sold 126,496 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $4.45, for a total value of $562,907.20. Following the transaction, the chief executive officer directly owned 424,617 shares of the company’s stock, valued at approximately $1,889,545.65. The trade was a 22.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,789,206 shares of company stock worth $8,633,716 over the last quarter. 2.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. grew its stake in shares of indie Semiconductor by 7,163.7% in 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 in the first quarter worth approximately $35,000. Evergreen Capital Management LLC bought a new position in shares of indie Semiconductor in the second quarter valued at $37,000. Gainplan LLC bought a new position in shares of indie Semiconductor in the fourth quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after acquiring an additional 10,999 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.