514,463 Shares in indie Semiconductor, Inc. $INDI Bought by Madison Asset Management LLC

Madison Asset Management LLC acquired a new stake in indie Semiconductor, Inc. (NASDAQ:INDI) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 514,463 shares of the company’s stock, valued at approximately $2,310,000. Madison Asset Management LLC owned approximately 0.23% of indie Semiconductor as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INDI. Dimensional Fund Advisors LP boosted its stake in shares of indie Semiconductor by 19.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,776 shares of the company’s stock valued at $6,033,000 after purchasing an additional 308,620 shares in the last quarter. Wasatch Advisors LP boosted its position in indie Semiconductor by 130.0% in the first quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after buying an additional 2,154,279 shares in the last quarter. General American Investors Co. Inc. boosted its position in indie Semiconductor by 14.7% in the fourth quarter. General American Investors Co. Inc. now owns 1,954,849 shares of the company’s stock valued at $6,901,000 after buying an additional 250,000 shares in the last quarter. Elemental Capital Partners LLC grew its stake in shares of indie Semiconductor by 60.0% during the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock worth $40,715,000 after buying an additional 4,741,680 shares during the last quarter. Finally, Granahan Investment Management LLC grew its stake in shares of indie Semiconductor by 17.8% during the first quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock worth $65,314,000 after buying an additional 3,067,255 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

INDI has been the subject of several research analyst reports. TD Cowen upped their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a report on Monday, July 13th. UBS Group upped their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Roth Capital set a $5.00 target price on shares of indie Semiconductor in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, indie Semiconductor presently has an average rating of “Hold” and an average price target of $4.75.

Insider Activity

In related news, CFO Naixi Wu sold 19,640 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $4.37, for a total transaction of $85,826.80. Following the sale, the chief financial officer owned 134,425 shares in the company, valued at $587,437.25. This represents a 12.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sonalee Elizabeth Parekh sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $3.80, for a total value of $76,000.00. Following the sale, the director directly owned 159,789 shares of the company’s stock, valued at $607,198.20. This represents a 11.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,452,924 shares of company stock worth $7,261,732. 2.57% of the stock is owned by insiders.

indie Semiconductor Trading Down 0.2%

INDI opened at $4.00 on Friday. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average of $3.93 and a 200-day moving average of $3.75. The stock has a market cap of $927.24 million, a PE ratio of -5.48 and a beta of 2.79.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $64.01 million during the quarter, compared to the consensus estimate of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. indie Semiconductor’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, sell-side analysts predict that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

indie Semiconductor 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.