Bamco Inc. NY Boosts Stake in indie Semiconductor, Inc. $INDI

Bamco Inc. NY raised its holdings in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,705,742 shares of the company’s stock after buying an additional 148,455 shares during the period. Bamco Inc. NY owned about 0.10% of indie Semiconductor worth $76,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INDI. Evergreen Capital Management LLC purchased a new stake in indie Semiconductor in the second quarter worth $37,000. Jump Financial LLC bought a new stake in shares of indie Semiconductor during the second quarter worth $39,000. Gainplan LLC purchased a new stake in shares of indie Semiconductor during the fourth quarter valued at $39,000. CIBC Asset Management Inc purchased a new stake in shares of indie Semiconductor during the fourth quarter valued at $42,000. Finally, M&T Bank Corp bought a new position in shares of indie Semiconductor in the fourth quarter worth about $43,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other indie Semiconductor news, President Ichiro Aoki sold 300,562 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $5.18, for a total transaction of $1,556,911.16. Following the sale, the president owned 107,148 shares of the company’s stock, valued at approximately $555,026.64. This trade represents a 73.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Naixi Wu sold 12,898 shares of indie Semiconductor stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $5.12, for a total value of $66,037.76. Following the completion of the transaction, the chief financial officer owned 114,787 shares in the company, valued at $587,709.44. This represents a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,893,552 shares of company stock worth $8,720,645 in the last three months. Corporate insiders own 2.57% of the company’s stock.

indie Semiconductor Stock Performance

NASDAQ INDI opened at $3.93 on Thursday. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. The company has a market capitalization of $891.73 million, a price-to-earnings ratio of -5.17 and a beta of 2.73. The company’s 50-day simple moving average is $4.06 and its two-hundred day simple moving average is $3.79.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The firm had revenue of $55.46 million during the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Equities analysts forecast that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on INDI. UBS Group raised their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen started coverage on shares of indie Semiconductor in a research report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.19.

indie Semiconductor Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.