Counterpoint Mutual Funds LLC Buys Shares of 169,464 indie Semiconductor, Inc. $INDI

Counterpoint Mutual Funds LLC purchased a new stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 169,464 shares of the company’s stock, valued at approximately $546,000. Counterpoint Mutual Funds LLC owned about 0.08% of indie Semiconductor as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. 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 valued at $1,122,000 after purchasing an additional 416,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $2,040,000 after purchasing an additional 298,339 shares during the last quarter. Millennium Management LLC boosted 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 worth $7,535,000 after purchasing an additional 3,037,435 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 13,495 shares during the period. Finally, Rhumbline Advisers grew its position in 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 purchasing an additional 58,473 shares during the period. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Stock Performance

INDI opened at $4.33 on Friday. The company’s 50 day moving average is $4.29 and its 200 day moving average is $3.78. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The company has a market cap of $982.48 million, a price-to-earnings ratio of -5.70 and a beta of 2.75. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05.

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

Insider Buying and Selling at indie Semiconductor

In related news, 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 transaction of $1,556,911.16. Following the transaction, the president directly owned 107,148 shares in the company, valued at approximately $555,026.64. The trade was a 73.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction on Monday, June 15th. The shares were sold at an average price of $4.19, for a total value of $209,500.00. Following the transaction, the chief executive officer owned 307,363 shares in the company, valued at $1,287,850.97. This trade represents a 13.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,643,552 shares of company stock worth $7,939,645. 2.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. TD Cowen started coverage on indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. UBS Group upped 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. Finally, Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. 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 company. According to MarketBeat, the company presently 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.