Axiom Investors LLC DE Reduces Position in indie Semiconductor, Inc. $INDI

Axiom Investors LLC DE trimmed its position in indie Semiconductor, Inc. (NASDAQ:INDI) by 23.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 905,695 shares of the company’s stock after selling 280,046 shares during the quarter. Axiom Investors LLC DE owned about 0.41% of indie Semiconductor worth $3,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of indie Semiconductor by 309.7% in the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock worth $1,122,000 after acquiring an additional 416,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of indie Semiconductor by 42.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after acquiring an additional 298,339 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after acquiring an additional 3,037,435 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of indie Semiconductor by 5.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock worth $909,000 after acquiring an additional 13,495 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of indie Semiconductor by 24.3% in the 2nd quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock worth $1,065,000 after acquiring an additional 58,473 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

indie Semiconductor Trading Down 10.1%

Shares of indie Semiconductor stock opened at $4.02 on Wednesday. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. The company has a market capitalization of $912.14 million, a P/E ratio of -5.29 and a beta of 2.73. The company’s fifty day moving average is $3.95 and its two-hundred day moving average is $3.76.

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

Insider Activity at indie Semiconductor

In other news, CFO Naixi Wu sold 55,000 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $2.81, for a total value of $154,550.00. Following the completion of the transaction, the chief financial officer directly owned 120,787 shares in the company, valued at approximately $339,411.47. This represents a 31.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Ichiro Aoki sold 454,900 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.28, for a total transaction of $2,401,872.00. Following the completion of the transaction, the president owned 106,169 shares of the company’s stock, valued at $560,572.32. This trade represents a 81.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,949,552 shares of company stock valued at $8,781,705 in the last ninety days. 2.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

INDI has been the topic of a number of research reports. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, UBS Group increased their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.92.

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.