Prepare Yourself for Liftoff: indie Semiconductor Inc. (INDI)

indie Semiconductor Inc. (NASDAQ: INDI) stock jumped 4.12% on Friday to $7.59 against a previous-day closing price of $7.29. With 1.09 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.52 million shares. During the session, the Semiconductor Equipment & Materials company that operates in wider Technology sector, reached to the highest price of $7.64 whereas the lowest price it dropped to was $7.26. The 52-week range on INDI shows that it touched its highest point at $16.33 and its lowest point at $5.07 during that stretch. It currently has a 1-year price target of $13.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INDI was up-trending over the past week, with a rise of 8.43%, but this was up by 35.29% over a month. Three-month performance surged to 1.34% while six-month performance fell -8.22%. The stock lost -11.23% in the past year, while it has lost -36.70% so far this year. A look at the trailing 12-month EPS for INDI yields -0.64 with Next year EPS estimates of -0.15. For the next quarter, that number is -0.12. This implies an EPS growth rate of 11.40% for this year and 72.50% for next year.

Float and Shares Shorts:

At present, 111.19 million INDI shares are outstanding with a float of 74.19 million shares on hand for trading. On Jul 14, 2022, short shares totaled 9.35 million, which was 7.87% higher than short shares on Jun 14, 2022. In addition to Mr. Donald McClymont as the firm’s CEO & Director, Dr. Ichiro Aoki Ph.D. serves as its Pres & Director.

Institutional Ownership:

Through their ownership of 47.75% of INDI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 20.25% of INDI, in contrast to 17.35% held by mutual funds. Shares owned by individuals account for 15.43%. As the largest shareholder in INDI with 7.45% of the stake, Soros Fund Management LLC holds 8,675,000 shares worth 8,675,000. A second-largest stockholder of INDI, SSgA Funds Management, Inc., holds 5,111,719 shares, controlling over 4.39% of the firm’s shares. BAMCO, Inc. is the third largest shareholder in INDI, holding 4,980,418 shares or 4.27% stake. With a 2.50% stake in INDI, the Baron Discovery Fund is the largest stakeholder. A total of 2,910,000 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.90% of INDI stock, is the second-largest Mutual Fund holder. It holds 2,210,163 shares valued at 12.6 million. SPDR S&P Semiconductor ETF holds 1.82% of the stake in INDI, owning 2,123,172 shares worth 12.1 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INDI since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With INDI analysts setting a high price target of $20.00 and a low target of $8.00, the average target price over the next 12 months is $13.83. Based on these targets, INDI could surge 163.5% to reach the target high and rise by 5.4% to reach the target low. Reaching the average price target will result in a growth of 82.21% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. INDI will report FY 2022 earnings on 02/21/2023. Analysts have provided yearly estimates in a range of -$0.41 being high and -$0.61 being low. For INDI, this leads to a yearly average estimate of -$0.48. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. indie Semiconductor Inc. surprised analysts by $0.01 when it reported -$0.11 EPS against a consensus estimate of -$0.12. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is -$0.11 and the low estimate is -$0.16. The average estimate for the next quarter is thus -$0.12.

Summary of Insider Activity:

Insiders traded INDI stock several times over the past three months with 8 Buys and 5 Sells. In these transactions, 194,500 shares were bought while 134,922 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 4,927,838 while 5,742,889 shares were sold.

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