Stocks of indie Semiconductor Inc. (INDI) are poised to climb above their peers

indie Semiconductor Inc. (NASDAQ: INDI) stock fell -1.76% on Friday to $6.71 against a previous-day closing price of $6.83. With 7.62 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.27 million shares. During the session, the Semiconductor Equipment & Materials company that operates in wider Technology sector, reached to the highest price of $6.89 whereas the lowest price it dropped to was $6.67. The 52-week range on INDI shows that it touched its highest point at $11.12 and its lowest point at $5.66 during that stretch. It currently has a 1-year price target of $13.92. Beta for the stock currently stands at 0.86.

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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 2.91%, but this was down by -7.32% over a month. Three-month performance dropped to -34.47% while six-month performance fell -35.79%. The stock lost -21.24% in the past year, while it has gained 15.09% so far this year. A look at the trailing 12-month EPS for INDI yields -1.06 with Next year EPS estimates of 0.17. For the next quarter, that number is -0.08. This implies an EPS growth rate of 42.40% for this year and 158.60% for next year.

Float and Shares Shorts:

At present, 141.97 million INDI shares are outstanding with a float of 119.09 million shares on hand for trading. On Aug 30, 2023, short shares totaled 15.12 million, which was 10.37% higher than short shares on Jul 30, 2023. In addition to Mr. Donald McClymont as the firm’s Co-Founder, CEO & Director, Dr. Ichiro Aoki Ph.D. serves as its Pres & Director.

Institutional Ownership:

Through their ownership of 63.26% of INDI’s outstanding shares, institutional investors have majority control over the company.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, INDI reported revenue of $25.75M and operating income of -$29.98M. The EBITDA in the recently reported quarter was -$29.79M and diluted EPS was -$0.04.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INDI since 0 analysts follow the stock currently. 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 $17.00 and a low target of $12.00, the average target price over the next 12 months is $13.92. Based on these targets, INDI could surge 153.35% to reach the target high and rise by 78.84% to reach the target low. Reaching the average price target will result in a growth of 107.45% 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.

Summary of Insider Activity:

Insiders traded INDI stock several times over the past three months with 6 Buys and 2 Sells. In these transactions, 161,790 shares were bought while 70,000 shares were sold. The number of buy transactions has increased to 39 while that of sell transactions has risen to 54 over the past year. The total number of shares bought during that period was 1,299,365 while 2,254,196 shares were sold.

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