indie Semiconductor (NASDAQ: INDI) is a small-cap chip stock that has had a rough go of it in 2024. Shares are down 43% this year. However, several Wall Street analysts are still bullish on this name. The average price target released since August, including one from B. Riley (NASDAQ: RILY), is $8 per share. The company’s value would need to rise 72% to meet that level.
This comes even after the company’s shares are up nearly 36% since its earnings report on Nov. 7. The company may be generating positive momentum. I will break down exactly what this company does and the recent developments around it. I will examine the company's financial progress and provide my long-term view on indie Semiconductor.
