indie Semiconductor, Inc. $INDI Shares Acquired by Elemental Capital Partners LLC

Elemental Capital Partners LLC lifted its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,902,713 shares of the company’s stock after purchasing an additional 291,111 shares during the quarter. indie Semiconductor comprises 14.8% of Elemental Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. Elemental Capital Partners LLC owned about 3.60% of indie Semiconductor worth $27,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after purchasing an additional 1,334,145 shares during the period. Caxton Associates LLP acquired a new position in indie Semiconductor during the second quarter worth $887,000. Bamco Inc. NY raised its holdings in indie Semiconductor by 23.5% during the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after buying an additional 4,813,397 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new position in shares of indie Semiconductor in the third quarter valued at $3,931,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of indie Semiconductor by 1,938.0% in the third quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock valued at $6,429,000 after buying an additional 1,502,175 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

indie Semiconductor Price Performance

INDI opened at $3.13 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10. The company has a market capitalization of $700.06 million, a price-to-earnings ratio of -4.29 and a beta of 2.56. The firm’s fifty day moving average price is $3.37 and its two-hundred day moving average price is $3.94. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm had revenue of $58.01 million during the quarter, compared to analyst estimates of $57.11 million. During the same quarter in the prior year, the business posted ($0.07) EPS. The business’s revenue was up .0% compared to the same quarter last year. As a group, analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Activity

In other news, President Ichiro Aoki sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $3.17, for a total value of $158,500.00. Following the transaction, the president owned 100,952 shares in the company, valued at $320,017.84. The trade was a 33.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Naixi Wu sold 17,162 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $3.56, for a total value of $61,096.72. Following the completion of the transaction, the chief financial officer directly owned 76,969 shares of the company’s stock, valued at approximately $274,009.64. This represents a 18.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 643,066 shares of company stock valued at $2,064,563. 5.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Wall Street Zen cut shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, UBS Group set a $4.25 price target on indie Semiconductor in a research note on Sunday, February 22nd. Five 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, indie Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $6.45.

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.