Nov. 18 at 1:21 PM
$INDI (INDI) Closing in on Profitability amid Backlog Growth
Benchmark Co reiterated a Buy rating on the stock on November 7 and set an
$8 price target, following better-than-expected third-quarter results. On November 6, the company delivered strong third-quarter results characterized by a strategic backlog increasing to
$7.4 billion. The better-than-expected results underscore the strength of design-win momentum across ADAS and growth in industrial markets, including quantum and robotics. With the backlog increasing to
$7.4 billion, the company remains on track to become profitable.