Granahan Investment Management LLC Sells 134,320 Shares of indie Semiconductor, Inc. (NASDAQ:INDI)

Granahan Investment Management LLC lowered its position in indie Semiconductor, Inc. (NASDAQ:INDI - Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,675,164 shares of the company's stock after selling 134,320 shares during the period. indie Semiconductor accounts for 3.0% of Granahan Investment Management LLC's portfolio, making the stock its 3rd largest holding. Granahan Investment Management LLC owned 8.75% of indie Semiconductor worth $71,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC lifted its position in shares of indie Semiconductor by 60.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock worth $70,366,000 after buying an additional 6,517,978 shares during the last quarter. Deutsche Bank AG grew its holdings in indie Semiconductor by 169.0% during the fourth quarter. Deutsche Bank AG now owns 246,028 shares of the company's stock valued at $996,000 after purchasing an additional 154,573 shares during the last quarter. DeepCurrents Investment Group LLC bought a new position in shares of indie Semiconductor in the fourth quarter valued at approximately $1,237,000. Brevan Howard Capital Management LP bought a new stake in shares of indie Semiconductor during the 4th quarter worth $76,000. Finally, Bamco Inc. NY raised its holdings in indie Semiconductor by 30.6% in the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock worth $80,602,000 after acquiring an additional 4,661,220 shares during the period. Institutional investors own 67.73% of the company's stock.

indie Semiconductor Price Performance

NASDAQ INDI traded up $0.04 on Tuesday, reaching $2.68. The company's stock had a trading volume of 7,741,523 shares, compared to its average volume of 3,710,879. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $7.82. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The firm has a market cap of $558.76 million, a PE ratio of -3.53 and a beta of 2.01. The business has a 50-day moving average price of $2.13 and a 200 day moving average price of $3.43.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The business had revenue of $54.08 million for the quarter, compared to analyst estimates of $54.94 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. indie Semiconductor's quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Craig Hallum decreased their target price on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday. KeyCorp decreased their price target on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday. B. Riley reiterated a "buy" rating on shares of indie Semiconductor in a research note on Thursday, April 24th. Benchmark cut their price target on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday. Finally, UBS Group assumed coverage on indie Semiconductor in a report on Friday, January 24th. They set a "neutral" rating and a $4.50 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, indie Semiconductor has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

Insider Buying and Selling at indie Semiconductor

In related news, COO Michael Wittmann sold 10,875 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the sale, the chief operating officer now directly owns 77,887 shares in the company, valued at $218,862.47. This trade represents a 12.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the completion of the transaction, the chief executive officer now directly owns 65,932 shares of the company's stock, valued at approximately $205,707.84. The trade was a 43.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,277 shares of company stock worth $434,192. Company insiders own 8.20% of the company's stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.