indie Semiconductor, Inc. $INDI Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its indie Semiconductor stake by 19.7% in the first quarter, owning 1.87 million shares valued at approximately $6.0 million. Institutional investors and hedge funds collectively own 67.73% of the company.
• Analysts maintain a generally cautious outlook, with INDI carrying an average “Hold” rating and a consensus price target of $4.75. Recent targets from TD Cowen and UBS were raised, while Weiss Ratings reiterated a sell rating.
• Indie Semiconductor reported quarterly revenue of $64.01 million, up 24% year over year, and met the consensus loss estimate of $0.05 per share. Meanwhile, company insiders sold more than 1.44 million shares worth $7.26 million over the past 90 days.

Dimensional Fund Advisors LP increased its position in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,873,776 shares of the company's stock after buying an additional 308,620 shares during the quarter. Dimensional Fund Advisors LP owned about 0.84% of indie Semiconductor worth $6,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its holdings in indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company's stock valued at $105,105,000 after buying an additional 873,940 shares during the period. Bamco Inc. NY increased its position in shares of indie Semiconductor by 0.7% in the fourth quarter. Bamco Inc. NY now owns 21,705,742 shares of the company's stock worth $76,621,000 after acquiring an additional 148,455 shares in the last quarter. Vanguard Group Inc. increased its position in shares of indie Semiconductor by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company's stock worth $54,693,000 after acquiring an additional 210,463 shares in the last quarter. Elemental Capital Partners LLC raised its stake in shares of indie Semiconductor by 60.0% in the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company's stock valued at $40,715,000 after acquiring an additional 4,741,680 shares during the period. Finally, Artemis Investment Management LLP raised its stake in shares of indie Semiconductor by 1.1% in the 4th quarter. Artemis Investment Management LLP now owns 5,001,073 shares of the company's stock valued at $17,654,000 after acquiring an additional 53,300 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INDI has been the topic of several research reports. TD Cowen raised their price objective on indie Semiconductor from $4.00 to $4.50 and gave the company a "hold" rating in a research report on Monday, July 13th. Roth Capital set a $5.00 target price on indie Semiconductor in a research report on Friday. Wall Street Zen upgraded indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a report on Friday, July 17th. Finally, UBS Group boosted their price target on indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, indie Semiconductor has an average rating of "Hold" and an average target price of $4.75.

Insiders Place Their Bets

In other indie Semiconductor news, CFO Naixi Wu sold 19,640 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $4.37, for a total value of $85,826.80. Following the transaction, the chief financial officer directly owned 134,425 shares of the company's stock, valued at $587,437.25. This represents a 12.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael Wittmann sold 6,250 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $4.67, for a total value of $29,187.50. Following the transaction, the chief operating officer owned 139,352 shares of the company's stock, valued at approximately $650,773.84. This trade represents a 4.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,440,456 shares of company stock valued at $7,262,613 over the last 90 days. 2.57% of the stock is owned by company insiders.

indie Semiconductor Stock Up 2.4%

Shares of indie Semiconductor stock opened at $3.81 on Wednesday. The business has a 50-day moving average of $3.94 and a 200-day moving average of $3.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The company has a market capitalization of $864.49 million, a PE ratio of -5.22 and a beta of 2.79. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $64.01 million for the quarter, compared to analysts' expectations of $62.49 million. indie Semiconductor had a negative return on equity of 30.89% and a negative net margin of 65.18%.The company's revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. As a group, equities analysts forecast that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

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.

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