B. Riley Cuts Earnings Estimates for indie Semiconductor

indie Semiconductor, Inc. (NASDAQ:INDI) – Stock analysts at B. Riley lowered their FY2024 earnings per share (EPS) estimates for indie Semiconductor in a research note issued to investors on Thursday, December 5th. B. Riley analyst C. Ellis now anticipates that the company will post earnings per share of ($0.73) for the year, down from their prior estimate 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.

A number of other brokerages have also commented on INDI. Roth Mkm dropped their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark lowered their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $8.92.

indie Semiconductor Stock Performance

Shares of indie Semiconductor stock opened at $4.33 on Monday. The business’s fifty day simple moving average is $4.09 and its 200 day simple moving average is $4.93. The firm has a market capitalization of $874.30 million, a P/E ratio of -6.46 and a beta of 1.36. indie Semiconductor has a 12 month low of $3.16 and a 12 month high of $8.69. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at indie Semiconductor

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

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently made changes to their positions in the stock. General American Investors Co. Inc. grew its position in shares of indie Semiconductor by 46.5% in the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock valued at $5,376,000 after purchasing an additional 427,928 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of indie Semiconductor in the third quarter valued at $4,478,000. Price T Rowe Associates Inc. MD grew its position in shares of indie Semiconductor by 14.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,108 shares of the company’s stock valued at $306,000 after purchasing an additional 5,394 shares in the last quarter. Calamos Advisors LLC purchased a new position in shares of indie Semiconductor in the second quarter valued at $478,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock valued at $12,752,000 after purchasing an additional 2,377,612 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Company Profile

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.