indie Semiconductor, Inc.
INDIHIGH VELOCITYFILING INTENSITYindie Semiconductor, Inc. reads as an High Velocity (composite 70/100); Selective Buyer deploying $116M across 4 disclosed transactions, up 1232% vs the prior cycle · primary market Semis & Hardware.
Lens
Disclosed M&A capital (2023–2025)
$116M
vs $9M in 2020–2022
Disclosed transactions
4
3/3 active fiscal years in window
Buyer archetype
Selective Buyer
Acquisition use is visible but targeted.
Composite score
70
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $125M disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 33d
- 61 8-Ks
Target Probability
Issuers showing target-side patterns from filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
Pressure Watch
Issuers facing activism, governance, or control pressure
Distress Watch
Issuers showing financial-distress filing patterns
- 10-Q 214d stale
Restatement Risk
Issuers with accounting-integrity flags from filings
- 1 auditor change
- 1 NT late filing
- Latest event 4.2y ago; discounted
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 61 8-Ks
- 4 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $756M
- 10-Q 214d ago
- 3 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $95M · Peak count: 3
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | N/A | $18M | N/A | N/A |
| 2024 | 1 | $3M | $3M | N/A |
| 2023 | 3 | $95M | $32M | N/A |
| 2022 | 3 | $9M | $3M | N/A |
| 2021 | N/A | N/A | N/A | N/A |
| 2020 | N/A | N/A | N/A | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Geographic Expansion20%
- Bolt On20%
- Platform20%
- Technology Acquisition20%
- Horizontal Consolidation20%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- geographic_expansion
- bolt_on
- platform
- technology_acquisition
- horizontal_consolidation
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“The market for high-performance analog, digital and mixed-signal semiconductors for automotive applications, is competitive although recent consolidation across the semiconductor industry has reduced the number of viable competitors and created design opportunities for us.”
“we may be at a competitive disadvantage to our peers if we fail to identify or are unable to finance attractive opportunities to acquire companies to expand our business.”
“Further, the semiconductor industry has experienced, and may continue to experience, significant consolidation among companies and vertical integration among customers.”
“semiconductor industry has experienced, and may continue to experience, significant consolidation among companies and vertical integration among customers.”
“recent consolidation across the semiconductor industry has reduced the number of viable competitors and created design opportunities for us.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Semis & Hardware
- Market spend (2023–2025)
- $118.8B
- Market spend (2020–2022)
- $89.3B
- Recent vs prior
- +33%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
INDI trades at a -26.2-turn discount to the Semis & Hardware peer median of 19.5×.
- EV / Revenue
- 3.5×
- Net debt / EBITDA
- N/A
- Peer median EV / EBITDA
- 19.5×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
Entegris, Inc.ENTG | 30.8× | 8.0× | 3.8× | $3.2B | $6B |
| 21.7× | 6.6× | -0.1× | $25.9B | $6.9B | |
| 19.5× | 4.5× | 2.8× | $4.7B | $1.8B | |
Qualcomm Inc.QCOM | 18.1× | 5.4× | -0.4× | $44.5B | $997M |
| 14.5× | 3.5× | -0.2× | $18.5B | $3.1B |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Semis & Hardware. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)62026-02-27
- 10-Q (quarterly)142025-11-07
- 8-K (event)612026-05-07
- Proxy / DEF 14A142026-04-17
- Activism (13D / DFAN / PREC)0N/A
Signals on file
- elevated
Auditor change
2021-07-211 Item 4.01 filing on file; certifying accountant change.
- watch
Late-filing notice
2022-03-311 NT 10-K/10-Q filing on file.
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
- info
Signal
Restatement risk
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.