Granahan Investment Management LLC Cuts Stock Position in indie Semiconductor, Inc. $INDI

Granahan Investment Management LLC trimmed its position in shares of indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,216,584 shares of the company's stock after selling 258,211 shares during the period. indie Semiconductor comprises 2.6% of Granahan Investment Management LLC's holdings, making the stock its 7th biggest holding. Granahan Investment Management LLC owned approximately 7.84% of indie Semiconductor worth $60,775,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Primecap Management Co. CA grew its holdings in indie Semiconductor by 3.0% during the 4th quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company's stock valued at $105,105,000 after purchasing an additional 873,940 shares during the last quarter. Vanguard Group Inc. grew its holdings in indie Semiconductor by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company's stock valued at $54,693,000 after purchasing an additional 210,463 shares during the last quarter. Elemental Capital Partners LLC grew its holdings in indie Semiconductor by 3.8% during the 4th quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company's stock valued at $27,897,000 after purchasing an additional 291,111 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in indie Semiconductor during the 3rd quarter valued at about $22,385,000. Finally, Artemis Investment Management LLP boosted its position 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 valued at $17,654,000 after buying an additional 53,300 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at indie Semiconductor

In other news, COO Michael Wittmann sold 39,645 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $4.80, for a total value of $190,296.00. Following the completion of the sale, the chief operating officer owned 98,309 shares of the company's stock, valued at approximately $471,883.20. This represents a 28.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Naixi Wu sold 12,898 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $5.12, for a total transaction of $66,037.76. Following the completion of the sale, the chief financial officer directly owned 114,787 shares of the company's stock, valued at $587,709.44. The trade was a 10.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,893,552 shares of company stock worth $8,639,645 over the last quarter. 2.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INDI has been the subject of several research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. UBS Group boosted their price objective on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a "neutral" rating in a research report on Friday, May 8th. Wall Street Zen raised shares of indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, TD Cowen initiated coverage on shares of indie Semiconductor in a research report on Wednesday, June 10th. They issued a "hold" rating and a $4.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, indie Semiconductor currently has a consensus rating of "Hold" and an average price target of $6.19.

indie Semiconductor Price Performance

indie Semiconductor stock opened at $3.93 on Wednesday. The stock has a market cap of $891.72 million, a price-to-earnings ratio of -5.17 and a beta of 2.73. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The firm has a 50-day moving average of $4.04 and a two-hundred day moving average of $3.78.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released 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). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company had revenue of $55.46 million during the quarter, compared to analysts' expectations of $55.09 million. During the same period in the previous year, the company earned ($0.08) EPS. The firm's quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast 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.

Want to see what other hedge funds are holding INDI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for indie Semiconductor, Inc. (NASDAQ:INDI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.