Granahan Investment Management LLC Increases Stock Holdings in indie Semiconductor, Inc. $INDI

Granahan Investment Management LLC grew its holdings in indie Semiconductor, Inc. (NASDAQ:INDI) by 17.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,283,839 shares of the company’s stock after purchasing an additional 3,067,255 shares during the period. indie Semiconductor comprises approximately 3.2% of Granahan Investment Management LLC’s holdings, making the stock its 6th largest holding. Granahan Investment Management LLC owned approximately 9.07% of indie Semiconductor worth $65,314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Primecap Management Co. CA grew its holdings in shares of indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock worth $105,105,000 after purchasing an additional 873,940 shares during the last quarter. Bamco Inc. NY lifted its holdings in indie Semiconductor by 0.7% during the 4th quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock valued at $76,621,000 after buying an additional 148,455 shares in the last quarter. Vanguard Group Inc. boosted its position in indie Semiconductor by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock valued at $54,693,000 after buying an additional 210,463 shares during the period. Elemental Capital Partners LLC boosted its position in indie Semiconductor by 60.0% in the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock valued at $40,715,000 after buying an additional 4,741,680 shares during the period. Finally, Artemis Investment Management LLP grew its stake in indie Semiconductor by 1.1% in the 4th quarter. Artemis Investment Management LLP now owns 5,001,073 shares of the company’s stock worth $17,654,000 after acquiring an additional 53,300 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

indie Semiconductor Price Performance

Shares of INDI opened at $3.47 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. The company has a 50 day moving average price of $4.23 and a 200-day moving average price of $3.81. indie Semiconductor, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $6.05. The stock has a market capitalization of $787.34 million, a PE ratio of -4.57 and a beta of 2.75.

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

Insider Buying and Selling

In other news, CFO Naixi Wu sold 19,640 shares of indie Semiconductor stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $4.37, for a total value of $85,826.80. Following the transaction, the chief financial officer directly owned 134,425 shares in the company, valued at approximately $587,437.25. This trade represents a 12.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Donald Mcclymont sold 126,496 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $4.45, for a total value of $562,907.20. Following the completion of the transaction, the chief executive officer directly owned 424,617 shares of the company’s stock, valued at approximately $1,889,545.65. The trade was a 22.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,640,456 shares of company stock worth $8,143,613 over the last quarter. Insiders own 2.57% of the company’s stock.

About indie Semiconductor

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.