Bamco Inc. NY Buys 148,455 Shares of indie Semiconductor, Inc. $INDI

Bamco Inc. NY lifted its stake in indie Semiconductor, Inc. (NASDAQ:INDI) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,705,742 shares of the company’s stock after buying an additional 148,455 shares during the quarter. Bamco Inc. NY owned approximately 9.88% of indie Semiconductor worth $76,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA grew its stake in indie Semiconductor by 3.0% during the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock valued at $105,105,000 after acquiring an additional 873,940 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of indie Semiconductor by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock valued at $54,693,000 after purchasing an additional 210,463 shares during the last quarter. Elemental Capital Partners LLC boosted its holdings in shares of indie Semiconductor by 3.8% during the 4th quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock valued at $27,897,000 after purchasing an additional 291,111 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of indie Semiconductor during the third quarter valued at about $22,385,000. Finally, Artemis Investment Management LLP grew its position in shares of indie Semiconductor by 1.1% during the fourth quarter. Artemis Investment Management LLP now owns 5,001,073 shares of the company’s stock valued at $17,654,000 after purchasing an additional 53,300 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

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

indie Semiconductor Price Performance

Shares of NASDAQ INDI opened at $3.93 on Thursday. The firm’s 50-day moving average price is $4.06 and its 200-day moving average price is $3.79. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $891.73 million, a price-to-earnings ratio of -5.17 and a beta of 2.73. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $55.09 million. During the same quarter last year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Naixi Wu sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $2.81, for a total transaction of $154,550.00. Following the transaction, the chief financial officer owned 120,787 shares of the company’s stock, valued at approximately $339,411.47. The trade was a 31.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Ichiro Aoki sold 454,900 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.28, for a total value of $2,401,872.00. Following the sale, the president owned 106,169 shares in the company, valued at $560,572.32. The trade was a 81.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,893,552 shares of company stock valued at $8,720,645. Company insiders own 2.57% of the company’s stock.

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.