indie Semiconductor, Inc. $INDI is Elemental Capital Partners LLC’s 2nd Largest Position

Elemental Capital Partners LLC raised its stake in indie Semiconductor, Inc. (NASDAQ:INDI) by 60.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 12,644,393 shares of the company’s stock after purchasing an additional 4,741,680 shares during the period. indie Semiconductor comprises 17.3% of Elemental Capital Partners LLC’s portfolio, making the stock its 2nd largest holding. Elemental Capital Partners LLC owned approximately 0.06% of indie Semiconductor worth $40,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Primecap Management Co. CA lifted its holdings in shares of indie Semiconductor by 3.0% in the 4th quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock valued at $105,105,000 after purchasing an additional 873,940 shares during the last quarter. Bamco Inc. NY grew its stake in indie Semiconductor by 0.7% during the 4th quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock worth $76,621,000 after buying an additional 148,455 shares during the last quarter. Vanguard Group Inc. increased its position in indie Semiconductor by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock worth $54,693,000 after buying an additional 210,463 shares during the period. Tudor Investment Corp ET AL acquired a new position in indie Semiconductor during the third quarter worth approximately $22,385,000. Finally, Artemis Investment Management LLP lifted its stake in indie Semiconductor by 1.1% in the fourth quarter. Artemis Investment Management LLP now owns 5,001,073 shares of the company’s stock valued at $17,654,000 after buying an additional 53,300 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $4.33 on Friday. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The stock has a 50 day simple moving average of $4.27 and a 200-day simple moving average of $3.77. The company has a market cap of $982.48 million, a price-to-earnings ratio of -5.70 and a beta of 2.75. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The firm had revenue of $55.46 million for the quarter, compared to the consensus estimate of $55.09 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts forecast that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Insiders Place Their Bets

In other news, COO Michael Wittmann sold 39,645 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $4.80, for a total value of $190,296.00. Following the completion of the transaction, the chief operating officer owned 98,309 shares in the company, valued at $471,883.20. This trade represents a 28.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $4.19, for a total transaction of $209,500.00. Following the completion of the sale, the chief executive officer owned 307,363 shares of the company’s stock, valued at $1,287,850.97. This trade represents a 13.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,643,552 shares of company stock worth $7,939,645 in the last ninety days. 2.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INDI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. TD Cowen assumed coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 target price on the stock. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, UBS Group raised their price objective on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.58.

indie Semiconductor Company Profile

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.