indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Rating of “Moderate Buy” from Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.45.

INDI has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. UBS Group set a $4.25 price objective on shares of indie Semiconductor in a research report on Sunday, February 22nd.

indie Semiconductor Trading Up 10.8%

NASDAQ INDI opened at $3.29 on Friday. indie Semiconductor has a twelve month low of $1.76 and a twelve month high of $6.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. The stock has a market cap of $735.84 million, a price-to-earnings ratio of -4.51 and a beta of 2.56. The firm’s 50 day moving average price is $3.13 and its two-hundred day moving average price is $3.88.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.11 million. During the same period in the previous year, the company posted ($0.07) EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that indie Semiconductor will post -0.54 EPS for the current year.

Insider Activity at indie Semiconductor

In other news, COO Michael Wittmann sold 37,500 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $3.50, for a total transaction of $131,250.00. Following the transaction, the chief operating officer directly owned 123,885 shares in the company, valued at $433,597.50. The trade was a 23.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Naixi Wu sold 55,000 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $2.81, for a total transaction of $154,550.00. Following the transaction, the chief financial officer owned 120,787 shares in the company, valued at approximately $339,411.47. This represents a 31.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 612,682 shares of company stock valued at $1,883,638. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of INDI. Royal Bank of Canada grew its holdings in shares of indie Semiconductor by 309.7% during the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after acquiring an additional 416,519 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock valued at $2,040,000 after acquiring an additional 298,339 shares in the last quarter. Millennium Management LLC boosted its holdings in indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after purchasing an additional 3,037,435 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in indie Semiconductor by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock worth $909,000 after purchasing an additional 13,495 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in indie Semiconductor by 24.3% in the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock worth $1,065,000 after purchasing an additional 58,473 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other 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.