indie Semiconductor (NASDAQ:INDI) Shares Up 8.5% – Still a Buy?

indie Semiconductor, Inc. (NASDAQ:INDI) shares rose 8.5% during trading on Tuesday . The stock traded as high as $3.88 and last traded at $4.0810. Approximately 600,361 shares traded hands during trading, a decline of 88% from the average session volume of 4,952,394 shares. The stock had previously closed at $3.76.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on INDI shares. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen initiated coverage on indie Semiconductor in a research note on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, UBS Group lifted their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.58.

indie Semiconductor Stock Performance

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 market capitalization of $981.59 million, a price-to-earnings ratio of -5.70 and a beta of 2.73. The stock’s fifty day simple moving average is $4.21 and its 200-day simple moving average is $3.77.

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

Insiders Place Their Bets

In other indie Semiconductor news, CFO Naixi Wu sold 55,000 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $2.81, for a total value of $154,550.00. Following the sale, the chief financial officer owned 120,787 shares of the company’s stock, valued at $339,411.47. This trade represents a 31.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Ichiro Aoki sold 454,900 shares of indie Semiconductor stock in a transaction dated 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 $560,572.32. The trade was a 81.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,643,552 shares of company stock valued at $7,939,645. 2.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INDI. Vanguard Group Inc. raised 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 valued at $62,203,000 after purchasing an additional 1,334,145 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of indie Semiconductor during the third quarter worth $3,931,000. Handelsbanken Fonder AB grew its stake in shares of indie Semiconductor by 1,938.0% during the third quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock worth $6,429,000 after purchasing an additional 1,502,175 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in indie Semiconductor in the third quarter valued at $22,385,000. Finally, Wasatch Advisors LP increased its holdings in indie Semiconductor by 130.0% in the first quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after buying an additional 2,154,279 shares during the last quarter. Hedge funds and other 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.