indie Semiconductor, Inc. (NASDAQ:INDI) Given Average Rating of “Hold” by Brokerages

indie Semiconductor, Inc. (NASDAQ:INDI) has received an average recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.1875.

Several equities research analysts have weighed in on INDI shares. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. TD Cowen started coverage on shares of indie Semiconductor in a research note on Wednesday. They issued a “hold” rating and a $4.00 target price for the company. UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th.

Insiders Place Their Bets

In other indie Semiconductor news, President Ichiro Aoki sold 454,900 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.28, for a total value of $2,401,872.00. Following the completion of the transaction, the president owned 106,169 shares of the company’s stock, valued at approximately $560,572.32. This trade represents a 81.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Naixi Wu sold 55,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $2.81, for a total transaction of $154,550.00. Following the completion of the transaction, the chief financial officer directly owned 120,787 shares of the company’s stock, valued at approximately $339,411.47. This represents a 31.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,893,552 shares of company stock valued at $8,639,645. Corporate insiders own 2.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. raised its holdings in shares of indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after buying an additional 8,095 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in shares of indie Semiconductor in the second quarter worth $37,000. Principal Financial Group Inc. purchased a new position in shares of indie Semiconductor in the first quarter worth $35,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of indie Semiconductor by 45,829.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after buying an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of indie Semiconductor during the second quarter worth $39,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Price Performance

Shares of INDI opened at $4.10 on Wednesday. The company has a market cap of $930.29 million, a price-to-earnings ratio of -5.39 and a beta of 2.73. indie Semiconductor has a twelve month low of $2.32 and a twelve month high of $6.05. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The company has a 50 day moving average of $4.01 and a two-hundred day moving average of $3.78.

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

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.