B. Riley Cuts Earnings Estimates for indie Semiconductor

indie Semiconductor, Inc. (NASDAQ:INDI) – B. Riley decreased their FY2024 earnings per share estimates for indie Semiconductor in a report released on Thursday, December 5th. B. Riley analyst C. Ellis now forecasts that the company will post earnings per share of ($0.73) for the year, down from their previous 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.

INDI has been the subject of several other reports. Benchmark dropped their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Roth Mkm lowered their price objective on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $8.92.

indie Semiconductor Price Performance

indie Semiconductor stock opened at $4.33 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $874.30 million, a PE 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 stock has a 50-day moving average price of $4.09 and a two-hundred day moving average price of $4.93.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently added to or reduced their stakes in INDI. General American Investors Co. Inc. grew its stake in 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 acquiring an additional 427,928 shares during the period. Artemis Investment Management LLP acquired a new stake in indie Semiconductor in the third quarter valued at approximately $4,478,000. Price T Rowe Associates Inc. MD lifted its holdings 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 bought a new position in shares of indie Semiconductor in the second quarter valued at approximately $478,000. Finally, Harbor Capital Advisors Inc. lifted its holdings 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. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at indie Semiconductor

In related news, CEO Donald Mcclymont sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.20% of the stock is owned by corporate insiders.

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.