Elemental Capital Partners LLC Acquires New Holdings in indie Semiconductor, Inc. $INDI

Elemental Capital Partners LLC bought a new position in indie Semiconductor, Inc. (NASDAQ:INDI) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,611,602 shares of the company’s stock, valued at approximately $30,979,000. indie Semiconductor accounts for about 17.5% of Elemental Capital Partners LLC’s investment portfolio, making the stock its 2nd largest position. Elemental Capital Partners LLC owned approximately 3.52% of indie Semiconductor at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Handelsbanken Fonder AB bought a new stake in shares of indie Semiconductor during the 2nd quarter valued at about $276,000. Caxton Associates LLP purchased a new position in shares of indie Semiconductor in the second quarter worth approximately $887,000. Bamco Inc. NY grew its position in indie Semiconductor by 23.5% during the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after buying an additional 4,813,397 shares during the period. Geode Capital Management LLC grew its position in indie Semiconductor by 9.5% during the second quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock valued at $16,285,000 after buying an additional 396,433 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in indie Semiconductor by 448.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 86,461 shares of the company’s stock valued at $308,000 after buying an additional 70,691 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Donald Mcclymont sold 200,000 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $6.01, for a total transaction of $1,202,000.00. Following the completion of the transaction, the chief executive officer owned 135,602 shares in the company, valued at approximately $814,968.02. This represents a 59.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Ichiro Aoki sold 250,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $3.92, for a total transaction of $980,000.00. Following the transaction, the president directly owned 82,634 shares of the company’s stock, valued at $323,925.28. The trade was a 75.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 933,734 shares of company stock worth $4,029,441 in the last three months. 5.60% of the stock is owned by company insiders.

indie Semiconductor Stock Down 1.5%

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 stock has a market cap of $856.56 million, a price-to-earnings ratio of -5.20 and a beta of 2.54. The firm’s fifty day moving average is $3.93 and its 200 day moving average is $4.21.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on INDI. Wall Street Zen cut shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Wednesday, October 8th. UBS Group boosted 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. Finally, Roth Capital restated a “buy” rating and issued a $8.00 price target on shares of indie Semiconductor in a research report on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.60.

About indie Semiconductor

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.