Wellington Management Group LLP Decreases Stock Position in indie Semiconductor, Inc. $INDI

Wellington Management Group LLP lessened its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 44.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,385,023 shares of the company’s stock after selling 1,128,520 shares during the period. Wellington Management Group LLP owned 0.60% of indie Semiconductor worth $6,219,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Optiver Holding B.V. lifted its position in shares of indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after buying an additional 8,095 shares in the last quarter. Principal Financial Group Inc. bought a new stake in indie Semiconductor in the 1st quarter worth approximately $35,000. Evergreen Capital Management LLC bought a new stake in indie Semiconductor in the 2nd quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of indie Semiconductor by 45,829.2% during the 4th 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 in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of indie Semiconductor during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Friday, July 17th. Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a research report on Friday, August 7th. TD Cowen lifted their price objective on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.75.

indie Semiconductor Stock Down 6.3%

NASDAQ INDI opened at $3.28 on Thursday. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The firm has a market capitalization of $760.34 million, a price-to-earnings ratio of -4.49 and a beta of 2.78. The company has a fifty day moving average of $3.86 and a two-hundred day moving average of $3.74.

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

Insider Activity

In other indie Semiconductor news, Director Sonalee Parekh sold 59,932 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $4.07, for a total value of $243,923.24. Following the sale, the director owned 99,857 shares in the company, valued at $406,417.99. This trade represents a 37.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Naixi Wu sold 21,171 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $3.54, for a total transaction of $74,945.34. Following the sale, the chief financial officer directly owned 153,183 shares of the company’s stock, valued at $542,267.82. This represents a 12.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 528,287 shares of company stock worth $2,149,281 in the last ninety days. 2.57% of the stock is currently owned by company insiders.

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.