BAMCO, Inc. has recently announced that it has increased stake in Indie Semiconductor Inc (NASDAQ:INDI) by 88.86%. After grabbing 11.04 million shares, the institutional investor is now in possession of 5.19 million shares of the Technology Company. The new investment brought the stake of investor firm to 7.20% having worth around $53.98 million. Moreover, SSgA Funds Management, Inc. increased its share by 2.07 million to have a control over 9.02 million shares. And The Vanguard Group, Inc. raised its holdings to 0.75 million shares by acquiring 8.68 million shares or 5.66% of the stake.
Indie Semiconductor Inc (INDI) concluded trading on 12/14/23 at a closing price of $8.22, with 4.5 million shares of worth about $36.98 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -19.73% during that period and on Thursday the price saw a gain of about 4.45%. Currently the company’s common shares owned by public are about 180.30M shares, out of which, 136.66M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 86 times over the past 12 months. They bought 1,082,915 shares in 41 of the transactions. In 45 selling transactions, insiders dumped 1,627,011 shares.
SPDR S&P Semiconductor ETF, Baron Small Cap Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Indie Semiconductor Inc SPDR S&P Semiconductor ETF is currently holding 5.88 million shares of worth totaling $28.74 million. The company recently came buying 0.0 shares which brought its stake up to 3.83% of the company’s outstanding shares. Baron Small Cap Fund bought 1.0 million shares, after which its hold over company’s outstanding shares expand to 2.61%, leaving 4.0 million shares with the mutual fund that have a worth of about $19.56 million. Vanguard Total Stock Market ETF, after buying 3.83 million shares, have now control over 2.50% of the stake in the company. It holds 0.13 million shares of worth $18.74 million.
However, the stock later moved at a day high price of 8.23, or with a gain of 4.45%. Stock saw a price change of 9.02% in past 5 days and over the past one month there was a price change of 25.50%. Year-to-date (YTD), INDI shares are showing a performance of 40.99% which increased to 15.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.67 but also hit the highest price of $11.12 during that period. The average intraday trading volume for Indie Semiconductor Inc shares is 2.47 million. The stock is currently trading 11.48% above its 20-day simple moving average (SMA20), while that difference is up 33.61% for SMA50 and it goes to 2.28% higher than SMA200.
BAMCO, Inc. acquired 11.04 million shares of Indie Semiconductor Inc having value of about $53.98 million. Data submitted at the U.S SEC by BAMCO, Inc. revealed that the firm now holds 5.19 million shares in the company valued at close to $42692830.5, or have control over 88.86% stake in the company. Indie Semiconductor Inc (NASDAQ: INDI) currently have 180.30M outstanding shares and institutions hold larger chunk of about 59.92% of that. Holding of mutual funds in the company is about 32.38% while other institutional holders and individual stake holders have control over 38.17% and 11.05% of the stake respectively.
The stock has a current market capitalization of $1.48B and its 3Y-monthly beta is at 1.15. It has posted earnings per share of -$0.91 in the same period. It has Quick Ratio of 1.55 while making debt-to-equity ratio of 0.42. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for INDI, volatility over the week remained 4.31% while standing at 4.66% over the month.
Analysts are in expectations that Indie Semiconductor Inc (INDI) stock would likely to be making an EPS of -$0.01 in the current quarter, while forecast for next quarter EPS is $0.01 and it is $0.13 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.01 which is $0 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 30.09% while it is estimated to increase by 123.20% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by CJS Securities on December 01, 2023 offering a Market outperform rating for the stock and assigned a target price of $15 to it.
