Roth MKM lowered the firm’s price target on Indie Semiconductor to $10 on “lower overall tech market valuations” from $15 and keeps a Buy rating on the shares. The company reported another strong growth quarter and guided in-line with consensus, reflecting resilient INDI program ramp design and broader macro auto choppiness, the analyst tells investors in a research note. Indie Semiconductor’s strong backlog growth to $6.3B, up from $4.3B last year, bodes well for its 2024 revenue growth, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on INDI:
- Indie Semiconductor sees Q4 revenue $70M-$75M, consensus $73.67M
- Indie Semiconductor reports Q3 EPS (12c), consensus (8c)
- 3 Best Stocks to Buy Now, 10/18/2023, According to Top Analysts
- Indie Semiconductor sees Q3 revenue above $60M, consensus $60.02M
- Indie Semiconductor files to sell 10.07M shares of Class A common for holders
