5 Best Growth Stocks To Buy According To George Soros

In this article, we will look at the 5 best growth stocks to buy according to George Soros. If you want to read about George Soros’ investment philosophy and explore similar stocks, you can go to 12 Best Growth Stocks To Buy According To George Soros.

5. indie Semiconductor, Inc. (NASDAQ:INDI)

Soros Fund Management’s Stake Value: $66,532,000 

Percentage of Soros Fund Management’s 13F Portfolio: 1.13%

Number of Hedge Fund Holders: 18

indie Semiconductor, Inc. (NASDAQ:INDI) is a leading provider of automotive semiconductors and software solutions for advanced driver assistance systems, connected cars, user experience, and electrification applications. The stock is one of the top growth stocks on George Soros’ 13F portfolio. As of September 30, Soros Fund Management has a position worth $66.5 million in the company and the investment covers 1.13% of the fund’s 13F portfolio.

On November 10, indie Semiconductor, Inc. (NASDAQ:INDI) posted earnings for the third quarter of fiscal 2022 in which the company beat EPS estimates by $0.01. The company generated a revenue of $30.02 million, up 146.90% year over year and ahead of Wall Street consensus by $32,600. On November 22, Benchmark analyst Cody Acree maintained a Buy rating and his $17 price target on indie Semiconductor, Inc. (NASDAQ:INDI).

At the close of Q3 2022, indie Semiconductor, Inc. (NASDAQ:INDI) was a part of 18 investors’ portfolios that held collective stakes of $115.08 million in the company. This is compared to 15 positions in the previous quarter with stakes worth $65.3 million. The hedge fund sentiment for the stock is positive.

Here is what investment management company, Baron Funds, had to say about indie Semiconductor, Inc. (NASDAQ:INDI) in its third-quarter 2022 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. We elected to take a tax loss on our prior position and have been rebuilding on recent weakness. We believe that the automotive semiconductor vertical is attractive as silicon content in cars increases over time from improving safety features and autonomous driving, electrification, and premiumization of interior and exterior features. Indie is a small but rapidly growing player in the automotive semiconductor space and has a multi-billion dollar contracted backlog, providing strong visibility to its revenue ramp in the coming years. Since coming public, the company has beaten expectations every quarter and is on track to turn profitable in 2023 and achieve targeted 60% gross and 30% operating margins by 2025. Indie’s management team has previously built a semiconductor company from the ground up, achieving a successful exit, giving us high confidence in their ability to execute their strategic plan with indie as well.”