Vanguard Group Inc. Buys 1,334,145 Shares of indie Semiconductor, Inc. $INDI

Key Points

• Vanguard Group Inc. raised its stake in indie Semiconductor by 9.6% in Q3, buying 1,334,145 shares to hold 15,283,185 shares — roughly 7.07% of the company worth about $62.2 million.
• indie reported Q results with EPS of ($0.07) (in line with estimates) and revenue of $58.01M, but remains unprofitable with a net margin of -66.23% and ROE of -29.33%; analysts have a consensus rating of "Moderate Buy" and a $6.45 average price target.

Vanguard Group Inc. increased its stake in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,283,185 shares of the company's stock after purchasing an additional 1,334,145 shares during the quarter. Vanguard Group Inc. owned approximately 7.07% of indie Semiconductor worth $62,203,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in indie Semiconductor by 309.7% during the first quarter. Royal Bank of Canada now owns 551,007 shares of the company's stock valued at $1,122,000 after purchasing an additional 416,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of indie Semiconductor by 42.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company's stock worth $2,040,000 after buying an additional 298,339 shares during the last quarter. Millennium Management LLC lifted its stake in shares of indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock worth $7,535,000 after buying an additional 3,037,435 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of indie Semiconductor by 356.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company's stock worth $34,000 after buying an additional 7,536 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of indie Semiconductor during the 2nd quarter worth $109,000. Institutional investors own 67.73% of the company's stock.

indie Semiconductor Stock Up 1.2%

INDI opened at $2.60 on Friday. The business has a 50 day moving average of $3.81 and a 200-day moving average of $4.15. The stock has a market capitalization of $571.04 million, a price-to-earnings ratio of -3.56 and a beta of 2.55. The company has a current ratio of 3.73, a quick ratio of 3.18 and a debt-to-equity ratio of 0.88. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $6.05.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of indie Semiconductor from a "hold" rating to a "sell" rating in a report on Saturday, December 13th. UBS Group set a $4.25 price target on shares of indie Semiconductor in a report on Sunday, February 22nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.45.

Insider Activity at indie Semiconductor

In related news, President Ichiro Aoki sold 7,188 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $3.67, for a total value of $26,379.96. Following the completion of the sale, the president owned 94,725 shares in the company, valued at approximately $347,640.75. This trade represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Naixi Wu sold 17,162 shares of indie Semiconductor stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $3.56, for a total value of $61,096.72. Following the sale, the chief financial officer directly owned 76,969 shares in the company, valued at approximately $274,009.64. This trade represents a 18.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 395,056 shares of company stock valued at $1,490,318. Company insiders own 5.60% of the company's stock.

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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