Elemental Capital Partners LLC Purchases New Position in indie Semiconductor, Inc. $INDI

Elemental Capital Partners LLC acquired a new position in indie Semiconductor, Inc. (NASDAQ:INDI) during the third quarter, HoldingsChannel reports. The institutional investor acquired 7,611,602 shares of the company’s stock, valued at approximately $30,979,000. indie Semiconductor comprises about 17.5% of Elemental Capital Partners LLC’s portfolio, making the stock its 2nd biggest position.

Several other hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in shares of indie Semiconductor in the third quarter valued at $166,000. Bouvel Investment Partners LLC lifted its position in indie Semiconductor by 5.5% during the third quarter. Bouvel Investment Partners LLC now owns 190,912 shares of the company’s stock valued at $777,000 after purchasing an additional 9,940 shares during the last quarter. HBK Sorce Advisory LLC purchased a new position in shares of indie Semiconductor in the 3rd quarter worth $41,000. American Trust bought a new stake in shares of indie Semiconductor in the 2nd quarter worth about $120,000. Finally, Squarepoint Ops LLC raised its position in shares of indie Semiconductor by 122.2% during the 2nd quarter. Squarepoint Ops LLC now owns 191,677 shares of the company’s stock valued at $682,000 after buying an additional 105,420 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

indie Semiconductor Trading Down 1.5%

Shares of NASDAQ INDI opened at $3.90 on Tuesday. indie Semiconductor, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $6.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. The company has a market cap of $856.56 million, a price-to-earnings ratio of -5.20 and a beta of 2.54. The business’s 50 day moving average price is $3.93 and its 200-day moving average price is $4.21.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The business had revenue of $53.68 million for the quarter, compared to analysts’ expectations of $53.98 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. indie Semiconductor’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Wednesday, October 8th. Wall Street Zen lowered indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Roth Capital reissued a “buy” rating and set a $8.00 target price on shares of indie Semiconductor in a research report on Wednesday, October 15th. Finally, UBS Group increased their price target on indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.60.

Insider Activity at indie Semiconductor

In other news, President Ichiro Aoki sold 7,188 shares of indie Semiconductor stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $3.67, for a total transaction of $26,379.96. Following the completion of the sale, the president owned 94,725 shares of the company’s stock, valued at approximately $347,640.75. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Wittmann sold 15,313 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $3.67, for a total value of $56,198.71. Following the completion of the sale, the chief operating officer owned 111,385 shares of the company’s stock, valued at $408,782.95. The trade was a 12.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 933,734 shares of company stock worth $4,029,441. Corporate insiders own 5.60% of the company’s stock.

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.