Up 20% in the Last Month, Is This Small Auto Supplier Stock a Buy Now?
Indie Semiconductor (NASDAQ: INDI) beat third-quarter 2022 expectations, helping send the stock over 20% higher in the last month alone. As good as results have been for the company, though, this is still a very high-risk, potentially high-reward stock.
New automotive design wins and higher electric vehicle adoption have expectations running high at Indie. Many investors are rightly excited about the proliferation of chips in the modern vehicle. But is this small auto tech supplier a buy right now?
Indie Semiconductor's revenue surged 147% higher in Q3 2022 to $30 million. Revenue through the first nine months of the year is up 164% to $77.8 million. Adjusted gross profit margins are also rising fast, up to 48.9% so far in 2022 compared to just 41.9% in 2021.
Source Fool.com
