Analysts Set indie Semiconductor, Inc. (NASDAQ:INDI) Price Target at $6.60

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.60.

INDI has been the topic of several analyst reports. Wall Street Zen lowered indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Roth Capital reaffirmed a “buy” rating and issued a $8.00 price objective on shares of indie Semiconductor in a research note on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Wednesday, October 8th. Finally, UBS Group lifted their price objective 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.

indie Semiconductor Price Performance

Shares of NASDAQ INDI opened at $3.70 on Friday. The business’s 50 day moving average price is $4.11 and its two-hundred day moving average price is $4.19. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86. The company has a market cap of $812.63 million, a PE ratio of -4.93 and a beta of 2.54. indie Semiconductor has a twelve month low of $1.53 and a twelve month high of $6.05.

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

Insiders Place Their Bets

In related news, COO Michael Wittmann sold 37,500 shares of indie Semiconductor stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $3.74, for a total value of $140,250.00. Following the completion of the sale, the chief operating officer owned 94,005 shares of the company’s stock, valued at approximately $351,578.70. This trade represents a 28.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Naixi Wu sold 10,386 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $4.44, for a total transaction of $46,113.84. Following the sale, the chief financial officer owned 67,542 shares in the company, valued at $299,886.48. The trade was a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 815,828 shares of company stock worth $3,596,726 in the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of indie Semiconductor by 356.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock valued at $34,000 after buying an additional 7,536 shares in the last quarter. Ethic Inc. bought a new stake in indie Semiconductor in the second quarter valued at $36,000. Evergreen Capital Management LLC purchased a new position in indie Semiconductor during the 2nd quarter valued at $37,000. Hsbc Holdings PLC increased its position in indie Semiconductor by 36.5% during the 1st quarter. Hsbc Holdings PLC now owns 19,486 shares of the company’s stock valued at $39,000 after purchasing an additional 5,213 shares during the period. Finally, Jump Financial LLC bought a new position in indie Semiconductor in the 2nd quarter worth $39,000. 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.