Indie Semiconductor Inc (NASDAQ: INDI)’s Potential for Significant Price Increase in the Near Future

In the last trading session, 2.87 million Indie Semiconductor Inc (NASDAQ:INDI) shares changed hands as the company’s beta touched 1.09. With the company’s per share price at $7.35 changed hands at $0.16 or 2.23% during last session, the market valuation stood at $1.33B. INDI’s last price was a discount, traded about -51.29% off its 52-week high of $11.12. The share price had its 52-week low at $4.67, which suggests the last value was 36.46% up since then. When we look at Indie Semiconductor Inc’s average trading volume, we note the 10-day average is 3.71 million shares, with the 3-month average coming to 2.61 million.

Analysts gave the Indie Semiconductor Inc (INDI) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended INDI as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Indie Semiconductor Inc’s EPS for the current quarter is expected to be -$0.01.

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Indie Semiconductor Inc (NASDAQ:INDI) trade information

Instantly INDI was in green as seen at the end of in last trading. With action 27.16%, the performance over the past five days has been green. The jump to weekly highs of 7.42 on Monday, 11/20/23 added 2.23% to the stock’s daily price. The company’s shares are showing year-to-date upside of 26.07%, with the 5-day performance at 27.16% in the green. However, in the 30-day time frame, Indie Semiconductor Inc (NASDAQ:INDI) is 37.64% up. Looking at the short shares, we see there were 16.18 million shares sold at short interest cover period of 8.09 days.

The consensus price target for the stock as assigned by Wall Street analysts is $13.08, meaning bulls need an upside of 43.81% from its current market value. According to analyst projections, INDI’s forecast low is $10.00 with $17.00 as the target high. To hit the forecast high, the stock’s price needs a -131.29% plunge from its current level, while the stock would need to soar -36.05% for it to hit the projected low.

Indie Semiconductor Inc (INDI) estimates and forecasts

Data shows that the Indie Semiconductor Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -19.32% over the past 6 months, a 35.56% in annual growth rate that is considerably higher than the industry average of -10.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Indie Semiconductor Inc will rise 90.90%, while the growth in revenue is estimated to hit 110.00% for the next quarter. Year-over-year growth is forecast to reach 103.70% up from the last financial year.

Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $72.66 million. 6 analysts are of the opinion that Indie Semiconductor Inc’s revenue for the quarter ending Mar 2024 will be $76.06 million. The company’s revenue for the corresponding quarters a year ago was $33.03 million and $40 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 120.00%. The estimates for the next quarter sales put growth at 90.20%.

The 2023 estimates are for Indie Semiconductor Inc earnings to increase by 29.55%.

INDI Dividends

Indie Semiconductor Inc is expected to release its next quarterly earnings report on November 09.

Indie Semiconductor Inc (NASDAQ:INDI)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 17.25% of Indie Semiconductor Inc shares while 63.26% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.45%. There are 63.26% institutions holding the Indie Semiconductor Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 6.04% of the shares, roughly 8.85 million INDI shares worth $83.19 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 5.64% or 8.26 million shares worth $77.69 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF and Vanguard Total Stock Market Index Fund. With 4.26 million shares estimated at $28.52 million under it, the former controlled 2.91% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.53% of the shares, roughly 3.7 million shares worth around $34.81 million.

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