During the last session, indie Semiconductor Inc. (NASDAQ:INDI)’s traded shares were 1.41 million, with the beta value of the company hitting 0.81. At the end of the trading day, the stock’s price was $9.09, reflecting an intraday gain of 1.91% or $0.17. The 52-week high for the INDI share is $11.12, that puts it down -22.33 from that peak though still a striking 42.57% gain since the share price plummeted to a 52-week low of $5.22. The company’s market capitalization is $1.51B, and the average intraday trading volume over the past 10 days was 2.06 million shares, and the average trade volume was 1.98 million shares over the past three months.
indie Semiconductor Inc. (INDI) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. INDI has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.09.
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indie Semiconductor Inc. (NASDAQ:INDI) trade information
indie Semiconductor Inc. (INDI) registered a 1.91% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.91% in intraday trading to $9.09 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 0.11%, and it has moved by 9.52% in 30 days. Based on these gigs, the overall price performance for the year is 39.85%. The short interest in indie Semiconductor Inc. (NASDAQ:INDI) is 12.71 million shares and it means that shorts have 6.41 day(s) to cover.
The consensus price target of analysts on Wall Street is $15.67, which implies an increase of 41.99% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $12.00 and $20.00 respectively. As a result, INDI is trading at a discount of -120.02% off the target high and -32.01% off the low.
indie Semiconductor Inc. (INDI) estimates and forecasts
Statistics show that indie Semiconductor Inc. has outperformed its competitors in share price, compared to the industry in which it operates. indie Semiconductor Inc. (INDI) shares have gone up 17.29% during the last six months, with a year-to-date growth rate more than the industry average at 60.00% against -10.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 18.20% this quarter and then jump 60.00% in the quarter after that. In the rating firms’ projections, revenue will increase 125.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $52.01 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $67.85 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $25.75 million and $29.98 million respectively. In this case, analysts expect current quarter sales to grow by 101.90% and then jump by 126.30% in the coming quarter.
While earnings are projected to return 42.40% in 2023.
indie Semiconductor Inc. is due to release its next quarterly earnings on May 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
indie Semiconductor Inc. (NASDAQ:INDI)’s Major holders
indie Semiconductor Inc. insiders own 16.94% of total outstanding shares while institutional holders control 58.89%, with the float percentage being 70.89%. Granahan Investment Management LLC is the largest shareholder of the company, while 208 institutions own stock in it. As of Mar 30, 2023, the company held over 6.98 million shares (or 4.93% of all shares), a total value of $73.66 million in shares.
The next largest institutional holding, with 6.47 million shares, is of Blackrock Inc.’s that is approximately 4.57% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $68.28 million.
Also, the Mutual Funds coming in first place with the largest holdings of indie Semiconductor Inc. (INDI) shares are Lord Abbett Developing Growth Fund and Baron Discovery Fund. Data provided on Jan 30, 2023 indicates that Lord Abbett Developing Growth Fund owns about 3.27 million shares. This amounts to just over 2.33 percent of the company’s overall shares, with a $26.03 million market value. The same data shows that the other fund manager holds slightly less at 2.91 million, or about 2.07% of the stock, which is worth about $16.97 million.