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

Granahan Investment Management LLC lessened its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,474,795 shares of the company’s stock after selling 2,012,607 shares during the period. indie Semiconductor makes up about 2.9% of Granahan Investment Management LLC’s investment portfolio, making the stock its 7th largest holding. Granahan Investment Management LLC owned 7.96% of indie Semiconductor worth $71,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Elemental Capital Partners LLC bought a new stake in indie Semiconductor in the third quarter worth $30,979,000. Bamco Inc. NY increased its holdings in shares of indie Semiconductor by 23.5% during the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after acquiring an additional 4,813,397 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of indie Semiconductor by 29.9% during the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock valued at $63,940,000 after acquiring an additional 4,139,349 shares in the last quarter. Millennium Management LLC raised its position in shares of indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after purchasing an additional 3,037,435 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in indie Semiconductor by 1,938.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock worth $6,429,000 after purchasing an additional 1,502,175 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. UBS Group set a $4.25 target price on shares of indie Semiconductor in a report on Sunday, February 22nd. Finally, Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, indie Semiconductor has a consensus rating of “Moderate Buy” and a consensus target price of $6.45.

indie Semiconductor Stock Up 1.6%

INDI stock opened at $2.48 on Monday. The stock has a market capitalization of $544.68 million, a P/E ratio of -3.40 and a beta of 2.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $6.05. The business has a fifty day moving average price of $3.71 and a 200-day moving average price of $4.07.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The company had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.11 million. During the same period last year, the firm posted ($0.07) earnings per share. indie Semiconductor’s revenue was up .0% compared to the same quarter last year. Equities analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Activity at indie Semiconductor

In other news, COO Michael Wittmann sold 37,500 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $3.50, for a total transaction of $131,250.00. Following the sale, the chief operating officer owned 123,885 shares of the company’s stock, valued at $433,597.50. This trade represents a 23.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Ichiro Aoki sold 7,188 shares of indie Semiconductor stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $3.67, for a total transaction of $26,379.96. Following the completion of the sale, the president owned 94,725 shares of the company’s stock, valued at $347,640.75. This represents a 7.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 293,420 shares of company stock worth $1,037,529 over the last quarter. 5.60% of the stock is currently owned by insiders.

indie Semiconductor Company 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.