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

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

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

indie Semiconductor Stock Performance

Shares of INDI opened at $4.10 on Tuesday. 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’s fifty day moving average is $4.01 and its two-hundred day moving average is $4.26. indie Semiconductor has a 1 year low of $1.53 and a 1 year high of $6.05. The stock has a market capitalization of $900.48 million, a P/E ratio of -5.47 and a beta of 2.54.

indie Semiconductor (NASDAQ:INDI) last announced 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 net margin of 66.84% and a negative return on equity of 28.84%. The company had revenue of $53.68 million during the quarter, compared to analyst estimates of $53.98 million. During the same quarter last year, the business earned ($0.09) EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts predict that indie Semiconductor will post -0.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Naixi Wu sold 12,448 shares of indie Semiconductor stock in a transaction on Monday, January 5th. The stock was sold at an average price of $3.67, for a total value of $45,684.16. Following the transaction, the chief financial officer directly owned 76,969 shares in the company, valued at $282,476.23. The trade was a 13.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Donald Mcclymont sold 100,000 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $4.09, for a total transaction of $409,000.00. Following the transaction, the chief executive officer owned 48,130 shares in the company, valued at approximately $196,851.70. The trade was a 67.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 733,734 shares of company stock valued at $2,827,441 over the last three months. 5.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in indie Semiconductor by 356.3% during the second quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock worth $34,000 after acquiring an additional 7,536 shares during the period. Ethic Inc. acquired a new stake in indie Semiconductor during the second quarter valued at approximately $36,000. HBK Sorce Advisory LLC acquired a new stake in shares of indie Semiconductor in the 3rd quarter valued at $41,000. Evergreen Capital Management LLC bought a new stake in indie Semiconductor during the second quarter worth about $37,000. Finally, Jump Financial LLC acquired a new stake in shares of indie Semiconductor in the second quarter valued at $39,000. Institutional investors 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.