11 Best Lidar Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 12

indie Semiconductor, Inc. (NASDAQ:INDI) makes integrated circuits and software solutions and participates in the lidar market through partnerships. The company collaborates with SiLC Technologies to create a Frequency Modulated Continuous Wave (FMCW) lidar solution. Also, SiLC’s leading product, Eyeonic™ Vision Sensor, integrates indie’s Surya™ System on Chip (SoC).

Not much is going on for this company so far in 2025, but much happened last year that is still relevant today. For example, indie received ASIL-D certification from SGS-TÜV Saar in November 2024 for its new powertrain safety system. This is the highest safety level defined in ISO 26262.

Indie also enhanced its in-house capabilities for integrating, packaging, and testing photonics. This is a major move because it can now offer complete photonics sub-systems for rapid solution evaluation, pre-production validation, and low-volume production. In other words, the company expanded its revenue potential.

Late last year, the company announced a $190 million convertible notes offering due 2029. The notes will carry a 3.50% interest rate and be convertible to common stock at approximately $5.14 per share, a 27.5% premium. Nonetheless, these moves have not done much to catalyze the growth of the share price. Still, the company promises a lot, a view that is supported by analysts at UBS, who point to a 4% upside potential for the stock.