169,464 Shares in indie Semiconductor, Inc. $INDI Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) during the first quarter, HoldingsChannel.com reports. The firm bought 169,464 shares of the company’s stock, valued at approximately $546,000.

Several other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 purchasing an additional 298,339 shares in the last quarter. Millennium Management LLC increased 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 purchasing an additional 3,037,435 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of indie Semiconductor by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock valued at $909,000 after purchasing an additional 13,495 shares during the period. Finally, Rhumbline Advisers raised its position in shares of indie Semiconductor by 24.3% during the 2nd quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after purchasing an additional 58,473 shares during the period. 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 INDI shares. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. TD Cowen initiated coverage on indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 price target on the stock. Finally, UBS Group boosted their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Friday, May 8th. One 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, the stock currently has a consensus rating of “Hold” and an average target price of $5.58.

indie Semiconductor Stock Performance

indie Semiconductor stock opened at $4.33 on Friday. The stock has a market cap of $982.48 million, a P/E 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. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The firm’s 50 day moving average price is $4.29 and its 200-day moving average price is $3.78.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The firm had revenue of $55.46 million for the quarter, compared to the consensus estimate of $55.09 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Activity at indie Semiconductor

In other indie Semiconductor news, CFO Naixi Wu sold 12,898 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 114,787 shares in the company, valued at $587,709.44. The trade was a 10.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Wittmann sold 39,645 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $4.80, for a total transaction of $190,296.00. Following the transaction, the chief operating officer directly owned 98,309 shares of the company’s stock, valued at $471,883.20. This trade represents a 28.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,643,552 shares of company stock valued at $7,939,645. 2.57% of the stock is currently owned by insiders.

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.