10 Best EV Penny Stocks to Buy According to Hedge Funds

3. indie Semiconductor, Inc. (NASDAQ:INDI)

Number of Hedge Fund Holders: 15

Share Price: $3.63

indie Semiconductor, Inc. (NASDAQ:INDI) is one of the best EV penny stocks to buy according to hedge funds. On July 14, the company announced that its quantum laser technology, specifically the ultra-low noise LXM-U laser module, is gaining adoption in the quantum computing and secure communications sectors. The LXM-U laser offers industry-leading frequency stability, with noise levels claimed to be 10 times lower than those of competing technologies. As such, the laser technology is particularly suitable for demanding quantum applications, such as quantum key distribution (QKD) and quantum computing.

indie stated that the laser can maintain locked operation for days. This feature is crucial for ensuring the reliable transmission of cryptographic keys in quantum-secure communications. A unique feature of the LXM-U laser is its ease of co-packaging with other lasers and Photonic Integrated Chips (PICs). This enables the collaborative, customized design and cost-efficient production of high-performance light engines tailored to customers’ needs.

The company stated that it’s working with front-runners in quantum computing, actively sampling and collaborating on innovative solutions utilizing the LXM-U laser and advanced optical integration capabilities.

indie Semiconductor, Inc. (NASDAQ:INDI) is a fabless semiconductor company. It specializes in automotive-grade solutions for advanced driver assistance systems (ADAS), connectivity, user experience, and electrification. The firm’s portfolio includes system-on-chip architectures and laser-based technologies designed to support autonomous driving and next-gen EV platforms.