Are Short Sellers Wrong About These 3 Semiconductor Stocks?

Group 1: Indie Semiconductor - Indie Semiconductor has a high short interest, with 27% of its floated shares sold short, indicating bearish sentiment among investors [2][3] - The company experienced significant revenue growth in 2022 and 2023, with increases of 129% and 101% respectively, but faced a nearly 3% decline in 2024 [3] - Indie has a substantial design backlog of $7.1 billion, which is significant compared to its projected revenue of $217 million in 2024, positioning the company well for future recovery in the automotive semiconductor market [5][6] Group 2: Rigetti Computing - Rigetti Computing also has a high short interest, with around 25% of its floated shares sold short, reflecting skepticism despite a 1450% stock price increase in 2024 [8][9] - The company is recognized for its quantum chip fabrication facility, which could position it as a key player in the quantum computing space, although it currently generates less than $11 million in revenue [9][10] - Rigetti's potential lies in its ability to serve as a contract quantum computer maker, with ongoing projects with the United States Air Force Research Lab [10] Group 3: Impinj - Impinj has a short position of nearly 26% of its floated shares, indicating significant bearish sentiment [11] - The company's stock rose 269% from October 31, 2023, to October 10, 2024, but has since declined by 62% due to valuation concerns and falling Q1 revenues [12][13] - Impinj specializes in small sensors for inventory tracking, with an estimated market opportunity to track trillions of items annually, having penetrated less than 1% of this market [14][15]