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Investing.com - Benchmark maintained its buy rating and $6.00 price target on Indie Semiconductor Inc (NASDAQ:INDI) on Monday, suggesting an 89% upside from the current price of $3.17. According to InvestingPro data, the stock is currently trading slightly below its Fair Value.
The research firm’s decision comes as Benchmark prepares to host Indie Semiconductor for a virtual group investor meeting. The online session is scheduled for Tuesday, June 24th at 2:00pm ET. With a market capitalization of $674 million, INDI has shown strong returns over the past three months despite its volatile nature.
Benchmark analyst Cody Acree reaffirmed the positive outlook for the semiconductor company, keeping both the rating and price target unchanged in the latest assessment.
The maintained buy rating suggests Benchmark continues to see potential upside for Indie Semiconductor shares at their current trading level. The $6.00 price target indicates the firm’s expectation for the stock’s future performance.
Indie Semiconductor, which focuses on automotive semiconductors and software platforms, will have the opportunity to present to investors and address questions during tomorrow’s virtual meeting hosted by the research firm.
In other recent news, Indie Semiconductor Inc. reported its first-quarter 2025 earnings, revealing a net loss that was larger than expected and revenue that fell short of forecasts. The company’s earnings per share (EPS) were -$0.18, missing the expected -$0.08, while revenue came in at $54.1 million, below the anticipated $55.94 million. Following these results, KeyBanc Capital Markets lowered its price target for Indie Semiconductor from $7.00 to $6.00, though it maintained an Overweight rating, indicating confidence in the company’s long-term prospects. Indie Semiconductor has announced a restructuring plan aimed at reducing its operating expenses by 24% by the fourth quarter of 2025.
In strategic moves, Indie Semiconductor plans to divest its 34.38% equity stake in its Chinese subsidiary, Wuxi indie Microelectronics Technology Co., to United Faith Auto Engineering. This transaction is part of a non-binding agreement expected to finalize by the end of 2025 or early 2026. Benchmark reiterated its Buy rating on Indie Semiconductor, highlighting the significance of the company’s control over Wuxi’s voting rights despite holding a minority equity share. The company remains focused on its advanced driver-assistance systems (ADAS) and innovative solutions, with expectations for its radar and vision programs to ramp up in the second half of 2025. Investors and stakeholders are closely monitoring these developments as they could impact Indie Semiconductor’s financial structure and strategic direction.
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