indie Semiconductor (INDI) Stock Surging in Premarket after Decline on Monday

indie Semiconductor (INDI), a fabless semiconductor company, has seen a surge of 9.02% in premarket trading session. As a result, INDI stock is changing hands at $11.00 at the time of this writing. There appears to be no specific reason for this gain. On Monday, INDI stock closed the day at $10.09 after declining some 1.27% in regular trading session. Let’s discuss some recent developments related to INDI stock.

INDI acquired TeraXion

On 31^st of August, INDI announced to have signed a definitive agreement to acquire TeraXion Inc. TeraXion Inc. is a market leader in designing and manufacturing of innovative photonic components. The company said that acquisition would facilitate its goal of becoming semiconductor and software level provider for multiple sensor modalities spanning advanced driver-assistance systems (ADAS) and autonomous vehicles. TeraXion, founded in 2000, has been an active player in industry. The reason for its solid performance during the period lies in its innovative approach and its tremendous reliability. This is depicted from the fact that it has more than 30 global patents worldwide. It produces integrated photonic elements to address high performance applications. In recent days, TeraXion partnered with indie. The companies partnered in optical sensing reference design. The partnership supported the next-generation Frequency Modulated Continuous Wave (FMCW) systems for LiDAR. For acquisition, indie said that it would pay $159 million for acquisition of TeraXion. It would comprise of $80 million in cash and rest in a fixed number of eight million indie Class A common shares. The transaction was approved by Board of Directors of both companies and was expected to close in Q4 2021.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

Q2 2021 quarterly results

On 20^th August, INDI reported the quarterly results for second quarter of fiscal 2021, ended 30^th June 2021. According to the details, the company generated revenue of $9.18 million during the quarter. During equivalent period of 2020, it generated $3.7 million in terms of revenue. The total operating expenses during quarter stood at $27.68 million. During Q2 of 2020, the total operating expenses were $8.32 million. The net income during the quarter was $12.98 million. During Q2 of 2020, the net loss was $6.99 million. The net income per basic share was $0.13 while for diluted share, it was 13 while for diluted share, it was $0.. simplealternatives.com 06. During Q2 of 2020, the net loss per basic and diluted share was $0.22. On 30^th June 2021, the company had cash and cash equivalents of $354.2 million. The total assets in possession of the company were $385.96 million. The total liabilities were $205.94 million.

What’s ahead for INDI?

Statistics reveal a positive future outlook for INDI stock. According to analysts, the EPS of INDI would rise 15% during the next fiscal year. Recent performances of INDI stock were also up to the mark. The stock has gained an increase of 16% during the last month. All in all, INDI stock is expected to be on a smooth ride in future.