indie Semiconductor (NASDAQ:INDI) Trading Up 9.8% – Should You Buy?

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) shot up 9.8% on Monday . The stock traded as high as $4.30 and last traded at $4.4450. 697,407 shares changed hands during trading, a decline of 86% from the average session volume of 4,810,320 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

Several analysts recently commented on the company. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group boosted their price target on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, indie Semiconductor presently has an average rating of “Hold” and an average price target of $6.92.

indie Semiconductor Trading Up 8.8%

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 company has a fifty day simple moving average of $3.91 and a 200-day simple moving average of $3.75. The company has a market capitalization of $999.49 million, a PE ratio of -5.81 and a beta of 2.73.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $55.46 million during the quarter, compared to analysts’ expectations of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.08) EPS. Analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Insider Buying and Selling

In other indie Semiconductor news, President Ichiro Aoki sold 300,562 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was 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 in the company, valued at $555,026.64. This represents a 73.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Naixi Wu sold 12,898 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $5.12, for a total value of $66,037.76. Following the completion of the transaction, the chief financial officer directly owned 114,787 shares in the company, valued at approximately $587,709.44. This trade represents a 10.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,949,552 shares of company stock valued at $8,781,705 in the last quarter. Corporate insiders own 2.57% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA lifted its stake in indie Semiconductor by 3.0% during the 4th quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock worth $105,105,000 after acquiring an additional 873,940 shares in the last quarter. Bamco Inc. NY lifted its stake in indie Semiconductor by 0.7% during the 4th quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock worth $76,621,000 after acquiring an additional 148,455 shares in the last quarter. Granahan Investment Management LLC lifted its stake in indie Semiconductor by 17.8% during the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock worth $65,314,000 after acquiring an additional 3,067,255 shares in the last quarter. Vanguard Group Inc. lifted its stake in indie Semiconductor by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock worth $54,693,000 after acquiring an additional 210,463 shares in the last quarter. Finally, Elemental Capital Partners LLC lifted its stake in indie Semiconductor by 60.0% during the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock worth $40,715,000 after acquiring an additional 4,741,680 shares in the last quarter. Institutional investors and hedge funds 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.