Handelsbanken Fonder AB Acquires 1,848,489 Shares of indie Semiconductor, Inc. $INDI

Handelsbanken Fonder AB grew its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 117.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,428,175 shares of the company’s stock after buying an additional 1,848,489 shares during the quarter. Handelsbanken Fonder AB’s holdings in indie Semiconductor were worth $12,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INDI. Evergreen Capital Management LLC bought a new stake in indie Semiconductor during the 2nd quarter worth about $37,000. Gainplan LLC bought a new stake in indie Semiconductor during the 4th quarter worth about $39,000. Jump Financial LLC bought a new stake in indie Semiconductor during the 2nd quarter worth about $39,000. M&T Bank Corp bought a new stake in indie Semiconductor during the 4th quarter worth about $43,000. Finally, Jefferies Financial Group Inc. bought a new stake in indie Semiconductor during the 3rd quarter worth about $55,000. 67.73% of the stock is owned by institutional investors.

Insider Transactions at indie Semiconductor

In related news, President Ichiro Aoki sold 100,000 shares of the company’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $3.28, for a total value of $328,000.00. Following the transaction, the president owned 100,952 shares in the company, valued at approximately $331,122.56. This represents a 49.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Naixi Wu sold 55,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $2.81, for a total transaction of $154,550.00. Following the completion of the transaction, the chief financial officer owned 120,787 shares in the company, valued at approximately $339,411.47. This trade represents a 31.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 912,682 shares of company stock worth $3,129,378 in the last ninety days. Insiders own 2.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INDI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. UBS Group boosted their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $6.92.

indie Semiconductor Stock Up 6.6%

indie Semiconductor stock opened at $4.18 on Friday. The firm has a market capitalization of $934.90 million, a PE ratio of -5.50 and a beta of 2.74. The company’s 50-day moving average is $3.42 and its 200-day moving average is $3.71. indie Semiconductor, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $6.05. 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 (NASDAQ:INDI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. indie Semiconductor’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.44 earnings per share for the current year.

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.