Vanguard Group Inc. Raises Position in indie Semiconductor, Inc. $INDI

Vanguard Group Inc. lifted its stake in indie Semiconductor, Inc. (NASDAQ:INDI) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,493,648 shares of the company’s stock after buying an additional 210,463 shares during the period. Vanguard Group Inc. owned approximately 0.07% of indie Semiconductor worth $54,693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Elemental Capital Partners LLC boosted its position in shares of indie Semiconductor by 3.8% in the fourth quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock worth $27,897,000 after buying an additional 291,111 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of indie Semiconductor in the third quarter worth about $22,385,000. Millennium Management LLC boosted its position in shares of indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after buying an additional 3,037,435 shares during the period. Royce & Associates LP boosted its position in shares of indie Semiconductor by 5.8% in the third quarter. Royce & Associates LP now owns 1,676,760 shares of the company’s stock worth $6,824,000 after buying an additional 92,300 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of indie Semiconductor by 1,938.0% in the third quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock worth $6,429,000 after buying an additional 1,502,175 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on INDI. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Finally, UBS Group upped their target price on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.92.

Insider Activity at indie Semiconductor

In related news, President Ichiro Aoki sold 100,000 shares of the stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $3.28, for a total value of $328,000.00. Following the completion of the transaction, the president owned 100,952 shares of the company’s stock, valued at approximately $331,122.56. This represents a 49.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Donald Mcclymont sold 90,644 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $3.56, for a total value of $322,692.64. Following the completion of the transaction, the chief executive officer directly owned 282,393 shares of the company’s stock, valued at $1,005,319.08. This represents a 24.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 912,682 shares of company stock valued at $3,129,378. Insiders own 2.57% of the company’s stock.

indie Semiconductor Trading Down 3.0%

Shares of INDI opened at $4.19 on Friday. The company has a market capitalization of $937.14 million, a P/E ratio of -5.51 and a beta of 2.74. indie Semiconductor, Inc. has a one year low of $2.29 and a one year high of $6.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.10 and a current ratio of 4.11. The stock has a 50-day moving average price of $3.31 and a 200 day moving average price of $3.77.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.indie Semiconductor’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.44 EPS for the current fiscal year.

About indie Semiconductor

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.