B. Riley Expects Reduced Earnings for indie Semiconductor

indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) - Analysts at B. Riley reduced their FY2024 EPS estimates for shares of indie Semiconductor in a research report issued to clients and investors on Thursday, December 5th. B. Riley analyst C. Ellis now forecasts that the company will post earnings of ($0.73) per share for the year, down from their previous forecast of ($0.69). The consensus estimate for indie Semiconductor's current full-year earnings is ($0.74) per share. B. Riley also issued estimates for indie Semiconductor's Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.49) EPS.

Several other equities research analysts have also commented on the stock. Roth Mkm decreased their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Benchmark cut their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $8.92.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock traded down $0.08 on Monday, hitting $4.21. The company's stock had a trading volume of 3,576,537 shares, compared to its average volume of 3,227,944. indie Semiconductor has a 52-week low of $3.16 and a 52-week high of $8.69. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $4.07 and a 200-day moving average price of $4.96. The company has a market capitalization of $850.08 million, a P/E ratio of -6.28 and a beta of 1.36.

Institutional Trading of indie Semiconductor

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company's stock valued at $25,000 after acquiring an additional 3,906 shares in the last quarter. Xponance Inc. acquired a new stake in shares of indie Semiconductor during the second quarter worth approximately $63,000. Legato Capital Management LLC acquired a new stake in shares of indie Semiconductor during the second quarter worth approximately $76,000. SlateStone Wealth LLC acquired a new stake in shares of indie Semiconductor during the second quarter worth approximately $82,000. Finally, Virtu Financial LLC acquired a new stake in shares of indie Semiconductor during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In other indie Semiconductor news, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $4.71, for a total value of $942,000.00. Following the completion of the sale, the chief executive officer now owns 18,351 shares of the company's stock, valued at $86,433.21. This trade represents a 91.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.20% of the company's stock.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.