1492 Capital Management LLC Raises Position in indie Semiconductor, Inc. $INDI

1492 Capital Management LLC increased its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 24.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 806,723 shares of the company’s stock after buying an additional 155,999 shares during the quarter. 1492 Capital Management LLC’s holdings in indie Semiconductor were worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in INDI. Royal Bank of Canada raised its holdings in shares of indie Semiconductor by 309.7% during the first quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock worth $1,122,000 after purchasing an additional 416,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in indie Semiconductor by 42.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock valued at $2,040,000 after purchasing an additional 298,339 shares during the period. Millennium Management LLC grew its holdings in indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after purchasing an additional 3,037,435 shares during the period. JPMorgan Chase & Co. increased its position in shares of indie Semiconductor by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock valued at $909,000 after buying an additional 13,495 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of indie Semiconductor by 24.3% in the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after buying an additional 58,473 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

indie Semiconductor Trading Down 4.1%

Shares of indie Semiconductor stock opened at $3.54 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The stock’s 50 day simple moving average is $4.20 and its 200-day simple moving average is $3.78. The stock has a market cap of $803.23 million, a P/E ratio of -4.66 and a beta of 2.73. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other indie Semiconductor news, COO Michael Wittmann sold 39,645 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $4.80, for a total value of $190,296.00. Following the completion of the sale, the chief operating officer directly owned 98,309 shares of the company’s stock, valued at $471,883.20. This trade represents a 28.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ichiro Aoki sold 300,562 shares of indie Semiconductor stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $5.18, for a total value of $1,556,911.16. Following the transaction, the president owned 107,148 shares in the company, valued at approximately $555,026.64. This represents a 73.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,643,552 shares of company stock valued at $7,939,645 in the last quarter. Corporate insiders own 2.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on INDI shares. UBS Group increased their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Friday, May 8th. TD Cowen began coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price target for the company. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, indie Semiconductor currently 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.