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

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One investment 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 1-year target price among brokerages that have covered the stock in the last year is $6.45.

A number of equities analysts have commented on INDI shares. Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. UBS Group set a $4.25 target price on shares of indie Semiconductor in a report on Sunday, February 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd.

Insider Buying and Selling at indie Semiconductor

In other news, CEO Donald Mcclymont sold 90,644 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $3.56, for a total transaction of $322,692.64. Following the sale, the chief executive officer directly owned 282,393 shares in the company, valued at approximately $1,005,319.08. This represents a 24.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ichiro Aoki sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $2.57, for a total value of $128,500.00. Following the sale, the president owned 100,952 shares in the company, valued at $259,446.64. The trade was a 33.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 393,066 shares of company stock worth $1,283,563 in the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INDI. Elemental Capital Partners LLC acquired a new position in shares of indie Semiconductor during the third quarter valued at $30,979,000. Vanguard Group Inc. increased its holdings in shares of indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock worth $62,203,000 after acquiring an additional 1,334,145 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of indie Semiconductor in the 2nd quarter worth about $276,000. Caxton Associates LLP bought a new stake in indie Semiconductor in the 2nd quarter valued at about $887,000. Finally, Bamco Inc. NY boosted its stake in indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after purchasing an additional 4,813,397 shares during the period. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Trading Down 1.9%

NASDAQ:INDI opened at $2.56 on Wednesday. The company has a market cap of $572.57 million, a PE ratio of -3.51 and a beta of 2.55. The business’s 50 day moving average is $3.58 and its two-hundred day moving average is $4.01. The company has a quick ratio of 3.10, a current ratio of 3.73 and a debt-to-equity ratio of 0.88. indie Semiconductor has a 52 week low of $1.53 and a 52 week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $58.01 million during the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. On average, analysts predict that indie Semiconductor will post -0.54 EPS for the current year.

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.