5 Best Lidar Stocks To Buy Now

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

Number of Hedge Fund Holders: 24

indie Semiconductor, Inc. (NASDAQ:INDI), is a prominent provider of automotive semiconductor and software solutions. The company specializes in delivering its solutions for a wide range of applications, including advanced driver assistance systems (ADAS), autonomous vehicles, in-cabin enhancements, user experience improvements, and electrification technologies. On August 3, indie Semiconductor, Inc. (NYSE:INDI) and SiLC Technologies, Inc (SiLC), a leader in silicon photonics innovation, entered into a partnership that enables coherent detection-based LiDAR platforms for next-generation sensing applications, including driver assistance, autonomous mobility, robotics and industrial automation.

Additionally, indie Semiconductor, Inc. (NYSE:INDI) recently completed its acquisition of EXALOS AG, a Swiss photonics company renowned for its high-performance optical semiconductor designs. This strategic move significantly enhances indie’s potential for collaboration with Tier One companies and automotive OEMs. It also broadens indie’s portfolio in advanced driver assistance and user experience offerings, incorporating near-infrared and visible superluminescent LED (SLED) products, alongside semiconductor optical amplifier (SOA) products. In particular, EXALOS’ SLEDs, used in fiber optic gyroscopes, and SOAs will complement indie Semiconductor, Inc. (NYSE:INDI)’s existing lineup of laser and silicon photonics products, specifically tailored for automotive technology applications.

According to Insider Monkey’s second quarter database, 24 hedge funds were bullish on indie Semiconductor, Inc. (NASDAQ:INDI), compared to 30 funds in the prior quarter. George Soros’ Soros Fund Management is the largest stakeholder of the company, with 3.2 million shares worth $34.2 million.

ClearBridge Small Cap Strategy made the following comment about indie Semiconductor, Inc. (NASDAQ:INDI) in its Q2 2023 investor letter:

“We also added indie Semiconductor, Inc. (NASDAQ:INDI), in the IT sector, which provides automotive semiconductor solutions for a variety of applications. The company is in the early innings of a rapid revenue ramp with a huge backlog to come as the company rapidly takes share in a growing market. We believe the market underestimates the long-term potential for this business as the company continues to sign high-profile contracts with major auto manufacturers and their suppliers.”