Granahan Investment Management LLC Has $65.31 Million Stock Holdings in indie Semiconductor, Inc. $INDI

Granahan Investment Management LLC boosted its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 17.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,283,839 shares of the company’s stock after acquiring an additional 3,067,255 shares during the period. indie Semiconductor accounts for 3.2% of Granahan Investment Management LLC’s holdings, making the stock its 6th biggest position. Granahan Investment Management LLC owned 0.09% of indie Semiconductor worth $65,314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in indie Semiconductor in the first quarter valued at approximately $35,000. Evergreen Capital Management LLC acquired a new position in shares of indie Semiconductor during the second quarter worth $37,000. Gainplan LLC purchased a new stake in shares of indie Semiconductor during the 4th quarter valued at $39,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after purchasing an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of indie Semiconductor in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on INDI shares. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. UBS Group raised their price target on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, TD Cowen boosted their price target on indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, indie Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $5.75.

Insider Transactions at indie Semiconductor

In related news, CFO Naixi Wu sold 19,640 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $4.37, for a total value of $85,826.80. Following the transaction, the chief financial officer owned 134,425 shares in the company, valued at approximately $587,437.25. This represents a 12.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Ichiro Aoki sold 300,562 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $5.18, for a total transaction of $1,556,911.16. Following the transaction, the president directly owned 107,148 shares of the company’s stock, valued at $555,026.64. This represents a 73.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,640,456 shares of company stock worth $8,143,613. 2.57% of the stock is owned by company insiders.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $3.47 on Friday. The business has a fifty day moving average of $4.23 and a 200 day moving average of $3.81. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The firm has a market capitalization of $787.34 million, a price-to-earnings ratio of -4.57 and a beta of 2.75.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $55.46 million for the quarter, compared to the consensus estimate of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. As a group, research analysts expect that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.

indie Semiconductor Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.