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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on INDI shares. 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 note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.92.

indie Semiconductor Price Performance

The company has a market capitalization of $999.49 million, a price-to-earnings ratio of -5.81 and a beta of 2.73. The stock has a fifty day simple moving average of $3.91 and a 200-day simple moving average of $3.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The company had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same period in the previous year, the company posted ($0.08) earnings per share. indie Semiconductor’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate 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 454,900 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was 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 directly owned 106,169 shares of the company’s stock, valued at approximately $560,572.32. The trade was a 81.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Naixi Wu sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $2.81, for a total value 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 $339,411.47. The trade was a 31.29% decrease in their ownership of the stock. 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. Insiders sold 1,949,552 shares of company stock valued at $8,781,705 over the last three months. 2.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Optiver Holding B.V. raised its stake in shares of indie Semiconductor by 7,163.7% during the 1st 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 period. Principal Financial Group Inc. acquired a new position in shares of indie Semiconductor during the 1st quarter worth approximately $35,000. Evergreen Capital Management LLC acquired a new position in shares of indie Semiconductor during the 2nd quarter worth approximately $37,000. Gainplan LLC acquired a new position in shares of indie Semiconductor during the 4th quarter worth approximately $39,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of indie Semiconductor by 45,829.2% during the 4th 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 period. 67.73% of the stock is owned by institutional investors and hedge funds.

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.