Wasatch Advisors LP Boosts Stake in indie Semiconductor, Inc. $INDI

Wasatch Advisors LP boosted its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 130.0% in the 1st quarter, Holdings Channel reports. The firm owned 3,811,285 shares of the company’s stock after buying an additional 2,154,279 shares during the quarter. Wasatch Advisors LP’s holdings in indie Semiconductor were worth $12,272,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INDI. SG Americas Securities LLC raised its holdings in shares of indie Semiconductor by 164.6% in the first quarter. SG Americas Securities LLC now owns 93,129 shares of the company’s stock worth $300,000 after buying an additional 57,929 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after acquiring an additional 10,999 shares during the last quarter. Virtu Financial LLC purchased a new position in indie Semiconductor during the 4th quarter valued at $178,000. Invesco Ltd. boosted its holdings in indie Semiconductor by 20.9% during the 4th quarter. Invesco Ltd. now owns 390,962 shares of the company’s stock valued at $1,380,000 after acquiring an additional 67,534 shares during the period. Finally, VARCOV Co. bought a new position in indie Semiconductor in the 4th quarter valued at $556,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at indie Semiconductor

In other news, President Ichiro Aoki sold 300,562 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $5.18, for a total value of $1,556,911.16. Following the completion of the sale, the president owned 107,148 shares in the company, valued at approximately $555,026.64. The trade was a 73.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 directly owned 307,363 shares of the company’s stock, valued at $1,287,850.97. The trade was a 13.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,643,552 shares of company stock valued at $7,939,645 in the last ninety days. 2.57% of the stock is owned by insiders.

indie Semiconductor Trading Down 4.1%

Shares of NASDAQ INDI opened at $3.54 on Friday. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $4.20 and a two-hundred day simple moving average of $3.78. The firm has a market cap of $803.23 million, a PE ratio of -4.66 and a beta of 2.73. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve 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 (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $55.46 million for 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%.The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. Analysts expect that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

indie Semiconductor 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.