Could Indie Semiconductor Inc (NASDAQ: INDI) Deliver Exceptional Returns?

In the last trading session, 3.26 million shares of the Indie Semiconductor Inc (NASDAQ:INDI) were traded, and its beta was 1.14. Most recently the company’s share price was $7.08, and it changed around $0.31 or 4.58% from the last close, which brings the market valuation of the company to $1.30B. INDI currently trades at a discount to its 52-week high of $10.85, offering almost -53.25% off that amount. The share price’s 52-week low was $4.67, which indicates that the current value has risen by an impressive 34.04% since then. We note from Indie Semiconductor Inc’s average daily trading volume that its 10-day average is 2.81 million shares, with the 3-month average coming to 2.42 million.

Indie Semiconductor Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended INDI as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Indie Semiconductor Inc is expected to report earnings per share of -$0.08 for the current quarter.

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Indie Semiconductor Inc (NASDAQ:INDI) trade information

Instantly INDI has showed a green trend with a performance of 4.58% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -12.70% year-to-date, but still up 6.63% over the last five days. On the other hand, Indie Semiconductor Inc (NASDAQ:INDI) is 16.54% up in the 30-day period. We can see from the shorts that 21.43 million shares have been sold at a short interest cover period of 6.87 day(s).

The consensus price target as assigned by Wall Street analysts is $13, which translates to bulls needing to increase their stock price by 45.54% from its current value. Analyst projections state that INDI is forecast to be at a low of $13 and a high of $13.

Indie Semiconductor Inc (INDI) estimates and forecasts

Indie Semiconductor Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 11.50 percent over the past six months and at a 38.24% annual growth rate that is well above the industry average of 1.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 20.00% in revenue this quarter, and will report an increase of 30.00% in the next quarter. The year-over-year growth rate is expected to be 26.80%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $56.17 million in revenue for the current quarter. 7 analysts expect Indie Semiconductor Inc to make $60.72 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 40.40%.

INDI Dividends

Indie Semiconductor Inc’s next quarterly earnings report is expected to be released around May 13 and May 17.

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

Upon looking at major shareholders, it appears that insiders hold 13.73% of Indie Semiconductor Inc shares, and 77.38% of them are in the hands of institutional investors. The stock currently has a share float of 89.69%. Indie Semiconductor Inc stock is held by 247 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 6.04% of the shares, which is about 8.85 million shares worth $83.19 million.

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

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