Wasatch Advisors LP Grows Stock Holdings in indie Semiconductor, Inc. $INDI

Wasatch Advisors LP lifted its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 130.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,811,285 shares of the company’s stock after acquiring an additional 2,154,279 shares during the period. Wasatch Advisors LP owned 1.70% of indie Semiconductor worth $12,272,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in indie Semiconductor by 32.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after purchasing an additional 3,921 shares during the period. Cetera Investment Advisers raised its position in shares of indie Semiconductor by 20.5% during the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after buying an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of indie Semiconductor by 33.1% in the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after buying an additional 4,763 shares in the last quarter. Abel Hall LLC lifted its holdings in shares of indie Semiconductor by 42.3% in the fourth quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock worth $60,000 after buying an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of indie Semiconductor by 1.9% during the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock worth $948,000 after acquiring an additional 5,055 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $3.54 on Friday. The firm has a fifty day simple moving average of $4.20 and a two-hundred day simple moving average of $3.78. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. 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 stock has a market capitalization of $803.23 million, a P/E ratio of -4.66 and a beta of 2.73.

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

Insider Buying and Selling

In related news, CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 307,363 shares in the company, valued at approximately $1,287,850.97. This represents a 13.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Naixi Wu sold 12,898 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $5.12, for a total value of $66,037.76. Following the completion of the sale, the chief financial officer owned 114,787 shares of the company’s stock, valued at approximately $587,709.44. This represents a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,643,552 shares of company stock valued at $7,939,645 over the last quarter. Company insiders own 2.57% of the company’s stock.

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.