indie Semiconductor, Inc. $INDI Stock Position Increased by Elemental Capital Partners LLC

Key Points

• Elemental Capital Partners increased its stake in indie Semiconductor by 60% in Q1, buying 4.74 million more shares and making INDI its second-largest holding.
• indie Semiconductor reported Q1 revenue of $55.46 million and EPS of -$0.06, both roughly in line with expectations, while analysts currently rate the stock a Hold with a consensus target price of $5.58.
• Insider selling was notable, with the CFO and president both selling shares in June; the stock was also down 4.6% in Friday trading and opened at $4.33.

Elemental Capital Partners LLC grew its holdings in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,644,393 shares of the company's stock after purchasing an additional 4,741,680 shares during the quarter. indie Semiconductor accounts for about 17.3% of Elemental Capital Partners LLC's holdings, making the stock its 2nd biggest holding. Elemental Capital Partners LLC owned about 5.65% of indie Semiconductor worth $40,715,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in INDI. Evergreen Capital Management LLC acquired a new stake in indie Semiconductor during the 2nd quarter worth approximately $37,000. Gainplan LLC acquired a new position in shares of indie Semiconductor in the fourth quarter worth $39,000. Caitong International Asset Management Co. Ltd increased its position in shares of indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company's stock worth $39,000 after acquiring an additional 10,999 shares during the period. Jump Financial LLC purchased a new stake in shares of indie Semiconductor during the second quarter worth $39,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of indie Semiconductor in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 67.73% of the company's stock.

indie Semiconductor Stock Down 4.6%

indie Semiconductor stock opened at $4.33 on Friday. The stock has a market cap of $982.48 million, a PE ratio of -5.70 and a beta of 2.75. 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 stock's fifty day moving average is $4.27 and its two-hundred day moving average is $3.77. 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 data on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.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 firm posted ($0.08) EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on INDI shares. TD Cowen initiated coverage on indie Semiconductor in a research note on Wednesday, June 10th. They set a "hold" rating and a $4.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Wall Street Zen upgraded indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, UBS Group boosted their price objective 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 investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.58.

Insiders Place Their Bets

In other indie Semiconductor news, CFO Naixi Wu sold 12,898 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $5.12, for a total value of $66,037.76. Following the transaction, the chief financial officer directly owned 114,787 shares in the company, valued at $587,709.44. This represents a 10.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Ichiro Aoki sold 300,562 shares of the firm's stock in a transaction that occurred 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 sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 1,643,552 shares of company stock worth $7,939,645 in the last three months. 2.57% of the stock is owned by company insiders.

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.

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