Key Points
- Director Sonalee Elizabeth Parekh sold 20,000 indie Semiconductor shares at an average price of $3.80, totaling $76,000. Her remaining stake fell 11.12% to 159,789 shares.
- indie Semiconductor reported quarterly revenue of $64.01 million, up 24% year over year and above analyst expectations, while adjusted EPS of negative $0.05 matched estimates.
- Analysts maintain an overall “Hold” rating with a consensus price target of $4.75; institutional investors own 67.73% of the company.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) Director Sonalee Elizabeth Parekh sold 20,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $3.80, for a total value of $76,000.00. Following the sale, the director owned 159,789 shares of the company's stock, valued at $607,198.20. This trade represents a 11.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.
indie Semiconductor Stock Performance
INDI opened at $4.71 on Friday. The firm has a market cap of $1.09 billion, a PE ratio of -6.45 and a beta of 2.79. The company has a quick ratio of 3.39, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. The business has a fifty day simple moving average of $3.92 and a 200-day simple moving average of $3.75. indie Semiconductor, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $6.05.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). The business had revenue of $64.01 million for the quarter, compared to analysts' expectations of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The company's quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. As a group, equities analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on INDI. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a report on Friday, July 17th. UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a report on Friday, May 8th. Wall Street Zen raised shares of indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Roth Capital set a $5.00 price target on shares of indie Semiconductor in a research report on Friday, August 7th. Finally, TD Cowen raised their price objective on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.75.
Get Our Latest Report on indie Semiconductor
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA lifted its position in indie Semiconductor by 3.0% in the 4th quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company's stock worth $105,105,000 after buying an additional 873,940 shares in the last quarter. Bamco Inc. NY increased its stake in shares of indie Semiconductor by 0.7% in the fourth 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 during the last quarter. Granahan Investment Management LLC increased its stake in shares of indie Semiconductor by 17.8% in the first 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of indie Semiconductor by 1.4% during the fourth 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 raised its holdings in shares of indie Semiconductor by 60.0% during the first 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
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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.
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