$18.24 Million in Sales Expected for indie Semiconductor, Inc. (NASDAQ:INDI) This Quarter

Brokerages expect indie Semiconductor, Inc. (NASDAQ:INDI) to post sales of $18.24 million for the current quarter, according to Zacks. Four analysts have issued estimates for indie Semiconductor’s earnings. The lowest sales estimate is $18.10 million and the highest is $18.30 million. The company is scheduled to issue its next earnings report on Tuesday, February 22nd.

According to Zacks, analysts expect that indie Semiconductor will report full-year sales of $47.70 million for the current financial year, with estimates ranging from $47.60 million to $47.80 million. For the next fiscal year, analysts expect that the firm will post sales of $111.11 million, with estimates ranging from $105.20 million to $119.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover indie Semiconductor.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Wednesday, November 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02.

A number of equities research analysts have recently issued reports on INDI shares. B. Riley increased their price target on shares of indie Semiconductor from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 11th. KeyCorp initiated coverage on shares of indie Semiconductor in a research note on Wednesday, October 20th. They issued an “overweight” rating and a $18.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of indie Semiconductor from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 12th. Finally, Zacks Investment Research raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Tuesday, October 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $16.75.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bamco Inc. NY grew its position in indie Semiconductor by 183.0% during the third quarter. Bamco Inc. NY now owns 4,920,761 shares of the company’s stock valued at $60,575,000 after acquiring an additional 3,181,687 shares during the last quarter. Luxor Capital Group LP bought a new position in indie Semiconductor during the second quarter valued at approximately $9,775,000. Primecap Management Co. CA bought a new position in indie Semiconductor during the third quarter valued at approximately $9,567,000. Millennium Management LLC bought a new position in indie Semiconductor during the second quarter valued at approximately $7,131,000. Finally, Hood River Capital Management LLC bought a new position in indie Semiconductor during the second quarter valued at approximately $7,204,000. Institutional investors and hedge funds own 21.55% of the company’s stock.

Shares of indie Semiconductor stock traded down $0.11 on Thursday, reaching $13.30. The stock had a trading volume of 778,239 shares, compared to its average volume of 1,044,879. indie Semiconductor has a 1 year low of $8.00 and a 1 year high of $16.33. The stock has a market capitalization of $1.73 billion, a P/E ratio of 3.72 and a beta of 0.01. The stock’s 50 day moving average price is $12.32.

About indie Semiconductor

indie Semiconductor, a fabless semiconductor company, designs and manufactures custom mixed-signal microcontrollers for automotive, medical, industrial, and consumer applications. The company offers custom solutions, standard products, and building blocks. It also integrates analog sub-systems, such as RF transceivers, power management circuitry, and sensor interfaces.

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Earnings History and Estimates for indie Semiconductor (NASDAQ:INDI)

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