Fred Alger Management LLC Buys New Position in indie Semiconductor, Inc. $INDI

Key Points

• Fred Alger Management LLC acquired 1,241,548 shares of indie Semiconductor, valued at approximately $2.5 million, increasing institutional ownership to 67.73% of the company.
• Analysts have mixed views on indie Semiconductor, with a consensus price target of $5.90 and ratings ranging from "buy" to "hold" based on recent reports.
• The company reported a loss of $0.08 per share in its last earnings, with revenue declining 1.5% compared to the previous year, while setting a fiscal year goal for EPS at -0.54.

Fred Alger Management LLC acquired a new stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,241,548 shares of the company's stock, valued at approximately $2,527,000. Fred Alger Management LLC owned about 0.60% of indie Semiconductor as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Nexpoint Asset Management L.P. raised its position in indie Semiconductor by 43.7% in the first quarter. Nexpoint Asset Management L.P. now owns 165,959 shares of the company's stock valued at $338,000 after purchasing an additional 50,459 shares during the period. Millennium Management LLC lifted its position 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company's stock valued at $2,040,000 after acquiring an additional 298,339 shares during the period. Royal Bank of Canada increased its stake in shares of indie Semiconductor by 309.7% during the 1st 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 in the last quarter. Finally, PEAK6 LLC acquired a new position in indie Semiconductor in the 1st quarter valued at $57,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a "buy" rating and set a $8.00 price target (up from $6.00) on shares of indie Semiconductor in a research report on Wednesday, June 25th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $5.90.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI traded down $0.02 on Friday, hitting $3.88. 6,437,782 shares of the company were exchanged, compared to its average volume of 2,853,217. The firm has a market capitalization of $838.74 million, a price-to-earnings ratio of -4.62 and a beta of 2.31. The company's 50 day moving average price is $4.21 and its two-hundred day moving average price is $3.13. indie Semiconductor, Inc. has a one year low of $1.53 and a one year high of $5.57. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.72 and a current ratio of 4.34.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative net margin of 71.98% and a negative return on equity of 28.43%. The firm had revenue of $51.63 million for the quarter, compared to analyst estimates of $51.40 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. indie Semiconductor has set its Q3 2025 guidance at EPS. Research analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Insider Activity

In other indie Semiconductor news, CEO Donald Mcclymont sold 41,986 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $4.22, for a total value of $177,180.92. Following the completion of the sale, the chief executive officer owned 285,602 shares in the company, valued at $1,205,240.44. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sonalee Elizabeth Parekh sold 11,841 shares of indie Semiconductor stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $3.42, for a total transaction of $40,496.22. Following the completion of the sale, the director owned 119,857 shares of the company's stock, valued at $409,910.94. This trade represents a 8.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,309 shares of company stock worth $679,937. 5.60% of the stock is owned by insiders.

indie Semiconductor Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.