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

Madison Asset Management LLC purchased a new position in indie Semiconductor, Inc. (NASDAQ:INDI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 514,463 shares of the company’s stock, valued at approximately $2,310,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optiver Holding B.V. raised its holdings in shares of indie Semiconductor by 7,163.7% during the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock valued at $26,000 after purchasing an additional 8,095 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of indie Semiconductor in the 1st quarter valued at about $35,000. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor in the 2nd quarter valued at about $37,000. Caitong International Asset Management Co. Ltd increased its position in indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after buying an additional 10,999 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in indie Semiconductor in the 2nd quarter valued at about $39,000. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Stock Down 0.2%

Shares of NASDAQ INDI opened at $4.00 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. The company has a 50-day moving average price of $3.93 and a 200-day moving average price of $3.75. The stock has a market capitalization of $927.24 million, a P/E ratio of -5.48 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) last posted 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). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The company had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts forecast that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Sonalee Elizabeth Parekh sold 20,000 shares of the 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Naixi Wu sold 19,640 shares of the 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 completion of the sale, the chief financial officer directly owned 134,425 shares of the company’s stock, valued at approximately $587,437.25. This trade represents a 12.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,452,924 shares of company stock worth $7,261,732. Company insiders own 2.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INDI. TD Cowen upped their price target on indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Friday, July 17th. Roth Capital set a $5.00 target price on indie Semiconductor in a research report on Friday, August 7th. Finally, UBS Group increased their target price on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.75.

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.