Zacks: Analysts Expect indie Semiconductor, Inc. (NASDAQ:INDI) to Post -$0.12 EPS

Wall Street analysts expect indie Semiconductor, Inc. (NASDAQ:INDIGet Rating) to report ($0.12) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for indie Semiconductor’s earnings, with the lowest EPS estimate coming in at ($0.12) and the highest estimate coming in at ($0.11). indie Semiconductor reported earnings of ($0.30) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 60%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that indie Semiconductor will report full year earnings of ($0.46) per share for the current financial year, with EPS estimates ranging from ($0.50) to ($0.41). For the next financial year, analysts anticipate that the company will post earnings of ($0.15) per share, with EPS estimates ranging from ($0.28) to ($0.09). Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow indie Semiconductor.

indie Semiconductor (NASDAQ:INDIGet Rating) last announced its quarterly earnings data on Friday, May 13th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $22.00 million for the quarter, compared to the consensus estimate of $21.57 million. indie Semiconductor had a negative net margin of 140.59% and a negative return on equity of 26.48%. The company’s quarterly revenue was up 171.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.13) EPS.

Several equities research analysts have recently weighed in on INDI shares. Deutsche Bank Aktiengesellschaft cut their target price on indie Semiconductor from $13.00 to $11.00 in a research report on Friday, May 13th. B. Riley cut their price objective on shares of indie Semiconductor from $15.00 to $9.00 in a report on Friday, May 13th. Zacks Investment Research cut shares of indie Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. Finally, Benchmark initiated coverage on shares of indie Semiconductor in a research note on Friday, May 13th. They issued a “buy” rating and a $17.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, indie Semiconductor has an average rating of “Buy” and an average price target of $13.29.

Shares of NASDAQ INDI opened at $7.85 on Thursday. The business has a 50-day moving average of $7.06 and a two-hundred day moving average of $8.73. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -8.18 and a beta of 0.34. indie Semiconductor has a 1 year low of $5.07 and a 1 year high of $16.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.98 and a quick ratio of 3.79.

In other news, COO Steven Machuga sold 17,562 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $6.81, for a total value of $119,597.22. Following the completion of the sale, the chief operating officer now directly owns 155,938 shares of the company’s stock, valued at $1,061,937.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 20.23% of the company’s stock.

A number of large investors have recently made changes to their positions in INDI. Sycomore Asset Management raised its stake in shares of indie Semiconductor by 9.8% during the 4th quarter. Sycomore Asset Management now owns 280,081 shares of the company’s stock worth $3,333,000 after buying an additional 25,081 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in indie Semiconductor during the fourth quarter worth $6,545,000. Geode Capital Management LLC raised its position in indie Semiconductor by 803.3% in the third quarter. Geode Capital Management LLC now owns 493,214 shares of the company’s stock worth $6,071,000 after acquiring an additional 438,611 shares in the last quarter. Soros Fund Management LLC lifted its holdings in indie Semiconductor by 75.0% in the fourth quarter. Soros Fund Management LLC now owns 3,500,000 shares of the company’s stock valued at $41,965,000 after acquiring an additional 1,500,000 shares during the period. Finally, Insight Advisors LLC PA boosted its position in shares of indie Semiconductor by 11.1% during the 4th quarter. Insight Advisors LLC PA now owns 30,595 shares of the company’s stock worth $367,000 after purchasing an additional 3,045 shares in the last quarter. Hedge funds and other institutional investors own 25.04% of the company’s stock.

indie Semiconductor Company Profile (Get Rating)

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.

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