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 6.84% having worth around $82.35 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 5.38% of the stake.
Indie Semiconductor Inc (INDI) concluded trading on 01/04/24 at a closing price of $7.07, with 4.46 million shares of worth about $31.53 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -20.20% during that period and on Thursday the price saw a loss of about -3.81%. Currently the company’s common shares owned by public are about 180.30M shares, out of which, 137.96M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 78 times over the past 12 months. They bought 1,070,331 shares in 37 of the transactions. In 41 selling transactions, insiders dumped 1,621,745 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 5.75 million shares of worth totaling $42.9 million. The company recently came selling 21183.0 shares which brought its stake up to 3.57% of the company’s outstanding shares. Vanguard Total Stock Market ETF, after buying 3.83 million shares, have now control over 2.38% of the stake in the company. It holds 0.0 shares of worth $28.59 million.
Indie Semiconductor Inc (NASDAQ: INDI) started trading at $6.92, below -$0.43 from concluding price of the previous day. Stock saw a price change of -16.53% in past 5 days and over the past one month there was a price change of -6.73%. Year-to-date (YTD), INDI shares are showing a performance of -12.82% which increased to 22.11% 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 2.44 million. The stock is currently trading -11.37% below its 20-day simple moving average (SMA20), while that difference is up 3.19% for SMA50 and it goes to -10.33% lower than SMA200.
BAMCO, Inc. acquired 11.04 million shares of Indie Semiconductor Inc having value of about $82.35 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 $36719989.25, 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 59.93% of that. Holding of mutual funds in the company is about 31.67% while other institutional holders and individual stake holders have control over 35.43% and 11.02% of the stake respectively.
The stock has a current market capitalization of $1.27B and its 3Y-monthly beta is at 1.16. 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 5.19% while standing at 4.79% 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 33.09% while it is estimated to increase by 126.87% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Indie Semiconductor Inc (INDI)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 7 Wall Street analysts, 7 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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.
