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 $89.53 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 Wednesday at a closing price of $6.87, with 3.11 million shares of worth about $21.34 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -25.00% during that period and On Wednesday, January 24 the price saw a loss of about -5.11%. Currently the company’s common shares owned by public are about 180.30M shares, out of which, 137.86M 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 73 times over the past 12 months. They bought 1,002,954 shares in 35 of the transactions. In 38 selling transactions, insiders dumped 1,512,945 shares.
Vanguard Total Stock Market ETF, SPDR S&P Semiconductor ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Indie Semiconductor Inc Vanguard Total Stock Market ETF is currently holding 4.56 million shares of worth totaling $36.97 million. The company recently came buying 0.73 million shares which brought its stake up to 2.83% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 4.04 million shares, have now control over 2.50% of the stake in the company. It holds 10692.0 shares of worth $32.73 million.
However, the stock later moved at a day high price of 7.50, or with a loss of -5.11%. Stock saw a price change of 3.46% in past 5 days and over the past one month there was a price change of -17.72%. Year-to-date (YTD), INDI shares are showing a performance of -15.29% which decreased to -8.40% 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 2.45 million. The stock is currently trading -7.85% below its 20-day simple moving average (SMA20), while that difference is down -6.89% for SMA50 and it goes to -10.56% lower than SMA200.
BAMCO, Inc. acquired 11.04 million shares of Indie Semiconductor Inc having value of about $89.53 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 $35681234.25, 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 60.12% of that. Holding of mutual funds in the company is about 30.03% while other institutional holders and individual stake holders have control over 37.26% and 11.05% of the stake respectively.
The stock has a current market capitalization of $1.24B 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 6.45% while standing at 5.30% over the month.
Analysts are in expectations that Indie Semiconductor Inc (INDI) stock would likely to be making an EPS of $Indian Rupee/USD Futures,Jan-20 in the current quarter, while forecast for next quarter EPS is $120.29 and it is $Future for next year. For the current quarter EPS, analysts have given the company a lowest target $indie Semiconductor, Inc. which is $Ishares MSCI India ETF 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 $WisdomTree India Earnings Fund 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.
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.
