Granahan Investment Management LLC lessened its holdings in indie Semiconductor, Inc. (NASDAQ:INDI – Free Report) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 position. Granahan Investment Management LLC owned 0.08% of indie Semiconductor worth $60,775,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in indie Semiconductor by 9.6% during the third quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after acquiring an additional 1,334,145 shares during the last quarter. ArrowMark Colorado Holdings LLC purchased a new stake in indie Semiconductor during the third quarter valued at approximately $3,931,000. Handelsbanken Fonder AB lifted its position in indie Semiconductor by 1,938.0% during the third quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock valued at $6,429,000 after acquiring an additional 1,502,175 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in indie Semiconductor during the third quarter valued at approximately $22,385,000. Finally, Elemental Capital Partners LLC lifted its position in indie Semiconductor by 3.8% during the fourth quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock valued at $27,897,000 after acquiring an additional 291,111 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.
indie Semiconductor Trading Down 4.8%
Shares of indie Semiconductor stock opened at $3.93 on Wednesday. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The firm has a market capitalization of $891.72 million, a price-to-earnings ratio of -5.17 and a beta of 2.73. The firm’s 50 day simple moving average is $4.04 and its two-hundred day simple moving average is $3.78.
Insider Buying and Selling
In other indie Semiconductor news, CFO Naixi Wu sold 55,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $2.81, for a total transaction of $154,550.00. Following the transaction, the chief financial officer owned 120,787 shares in the company, valued at approximately $339,411.47. This represents a 31.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Ichiro Aoki sold 454,900 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $5.28, for a total transaction of $2,401,872.00. Following the transaction, the president owned 106,169 shares in the company, valued at $560,572.32. The trade was a 81.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,893,552 shares of company stock worth $8,639,645 in the last 90 days. 2.57% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group increased their target price 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. Finally, TD Cowen assumed coverage on shares of indie Semiconductor in a research report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price for the company. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, indie Semiconductor currently has an average rating of “Hold” and a consensus price target of $6.19.
Get Our Latest Stock Analysis on indie Semiconductor
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.
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