Celebrations may be in order for indie Semiconductor, Inc. (NASDAQ:INDI) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects.
After the upgrade, the six analysts covering indie Semiconductor are now predicting revenues of US$109m in 2022. If met, this would reflect a major 203% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$91m in 2022. It looks like there's been a clear increase in optimism around indie Semiconductor, given the sizeable gain to revenue forecasts.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the indie Semiconductor's past performance and to peers in the same industry. It's clear from the latest estimates that indie Semiconductor's rate of growth is expected to accelerate meaningfully, with the forecast 143% annualised revenue growth to the end of 2022 noticeably faster than its historical growth of 7.5% p.a. over the past three years. Compare this with other companies in the same industry, which are forecast to grow their revenue 11% annually. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect indie Semiconductor to grow faster than the wider industry.
The Bottom Line
The highlight for us was that analysts increased their revenue forecasts for indie Semiconductor next year. The analysts also expect revenues to grow faster than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at indie Semiconductor.
But wait - there's more! At least one of indie Semiconductor's six analysts has provided estimates out to 2023, which can be seen for free on our platform here.
Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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