Will indie Semiconductor (INDI) be Able to Approach $1 Billion in Revenue by 2028? – Yahoo Finance UK
Labour could now drop plans to reintroduce the policy
Baron Funds, an investment management company, released its “Baron Opportunity Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter, the fund rose 15.33% (Institutional Shares), outperformed the Russell 3000 Growth Index, which gained 11.23%, and the S&P 500 Index, which advanced 10.56%. US equities continued their robust performance in Q1 with all major indices touching all-time highs on multiple occasions. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Baron Opportunity Fund highlighted stocks like Indie Semiconductor, Inc. (NASDAQ:INDI), in the first quarter 2024 investor letter. Indie Semiconductor, Inc. (NASDAQ:INDI) offers automotive semiconductors and software solutions. The one-month return of Indie Semiconductor, Inc. (NASDAQ:INDI) was 31.10%, and its shares lost 27.89% of their value over the last 52 weeks. On June 10, 2024, Indie Semiconductor, Inc. (NASDAQ:INDI) stock closed at $7.42 per share with a market capitalization of $1.248 billion.
Baron Opportunity Fund stated the following regarding Indie Semiconductor, Inc. (NASDAQ:INDI) in its first quarter 2024 investor letter:
"Indie Semiconductor, Inc. (NASDAQ:INDI) is a fabless designer, developer, and marketer of automotive semiconductors for advanced driver assistance systems and connected car, user experience, and electrification applications. Shares fell during the quarter as the company guided revenue growth for 2024 below Street expectations as its customers digest excess inventory in the early parts of the year. While indie conservatively still expects to be growing at a healthy 25%-plus year-over-year growth rate, well above the industry and peers, investors are concerned the inventory digestion could last longer into 2024 than initially expected despite management confidence in a strong second half of 2024 driven by over 20 new projects layering in through the year across various automakers and applications. Despite the near-term softening, we believe indie remains well positioned for growth over the medium and long term supported by its $6.3 billion design win backlog (versus $220 million in 2023 revenue), and its large program ramps in 2025, including a marquee radar-related rollout, the biggest program in the company’s history. We believe indie can continue to significantly outpace the broader industry and approach $1 billion in revenue by 2028 with premium margins, all supported by its contracted visibility."
High angle view of a semiconductor chip against an array of electronics components.
Indie Semiconductor, Inc. (NASDAQ:INDI) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Indie Semiconductor, Inc. (NASDAQ:INDI) at the end of the first quarter which was 19 in the previous quarter. Indie Semiconductor, Inc.’s (NASDAQ:INDI) revenue for the first quarter of 2024 increased by 29% year over year to $52.4 million, albeit it fell short of guidance. While we acknowledge the potential of Indie Semiconductor, Inc. (NASDAQ:INDI) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Indie Semiconductor, Inc. (NASDAQ:INDI) and shared Jim Cramer’s list of stocks that you should avoid. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.
The DWP has been looking at statements of Pension Credit claimants to ensure they are receiving legitimate payments
Reform, sitting third in pre-election opinion polls and compounding the woes of the governing Conservatives, said it wanted a 20,000-pound annual threshold at which people start to pay income tax, up sharply from 12,570 pounds now. Party Chairman Richard Tice said the plan would speed up the economy and end the "gross negligence" of the BoE paying tens of billions of pounds a year to banks under its quantitative easing programme, funded by taxpayers. "This is real cash, your money, being used to enrich the City of London," Tice told a news conference.
Once again, we are going into an election with politicians from both the Conservative and Labour parties making promises that they may not be able to keep.
Tax rises are inevitable under the next government because of heavy losses created by the Bank of England’s money printing scheme, Goldman Sachs has warned.
Zaven Boyrazian explores the UK’s biggest Dividend Aristocrat shares to see whether these ‘safe’ investments can live up to expectations in the long run. The post 5 of the ‘safest’ dividend shares investors can consider in 2024 appeared first on The Motley Fool UK.
This popular FTSE 100 stock is having a tough ride in 2024. But is this secretly a buying opportunity for long-term investors? Zaven Boyrazian investigates. The post Should I buy this FTSE 100 giant sitting near its 52-week low? appeared first on The Motley Fool UK.
Jon Smith flags up a more unusual dividend stock that specialises in debt and credit but has a very high dividend yield on offer. The post I’m an income-hunter and this dividend stock with a 9% yield looks juicy appeared first on The Motley Fool UK.
The average "shelf-life" of a UK mortgage has nearly halved in a month, new data shows, as lenders raise rates on home loans.
Nvidia began trading Monday after its 10-for-1 stock split.
Some of the yields quoted for dividend shares can be misleading. But our writer thinks he’s found a steady and reliable income stock. The post Beware of value traps when it comes to dividend shares! appeared first on The Motley Fool UK.
Another major Tesla investor is publicly opposing Elon Musk's $56 billion pay package days before investors vote on the enormous figure.
(Bloomberg) — British personal computer maker Raspberry Pi shares jumped on its first day as a public company, offering a boost to London’s struggling market for new stock listings. Most Read from BloombergMusk to Ban Apple Devices If OpenAI Is Integrated Into OSApple’s ‘AI for the Rest of Us’ Plan Gets Lukewarm ReactionNYC Landlord to Sell Office Building at Roughly 67% DiscountRussia Is Sending Young Africans to Die in Its War Against UkraineRaspberry Pi shares traded at 360 pence each at 10:
Discount retail is a big theme for investors at the moment. And the FTSE 100 has one of the best in the industry at a bargain price right now. The post At a 52-week low, this FTSE 100 stock looks like a big opportunity appeared first on The Motley Fool UK.
A high dividend yield can be a tremendous source of passive income, if it’s sustainable. And this FTSE 250 stock may be able to deliver just that. The post Buy-to-let? This 7.3% dividend yield is a better long-term income stream appeared first on The Motley Fool UK.
BP’s share price drop makes it look even more undervalued to me, especially with solid growth forecasts and increased rewards for shareholders. The post BP’s share price is down 18% since October, so is it time for me to buy the dip? appeared first on The Motley Fool UK.
In today's uncertain economy, having a reliable passive income can be a real game changer. I've found two dividend stocks that might just be the answer. The post 2 dirt-cheap dividend shares I’d buy for long-term passive income appeared first on The Motley Fool UK.
The global interest rate-cutting cycle has begun, but there is little sign that the Bank of England is ready to jump on board.
The FTSE 100 has posted a healthy gain in the last year. This Fool investigates two stocks to see if they can carry on rising. The post These FTSE 100 stocks are flying! Can they keep it up? appeared first on The Motley Fool UK.
Our writer considers how the UK government’s desire for greater nuclear power capacity might impact the Rolls-Royce share price. The post Will going nuclear drive the Rolls-Royce share price even higher? appeared first on The Motley Fool UK.
Coronation Street's Bill Roache has managed to avoid bankruptcy following a court hearing.