Bamco Inc. NY Has $87.74 Million Position in indie Semiconductor, Inc. $INDI

Bamco Inc. NY lessened its stake in shares of indie Semiconductor, Inc. (NASDAQ:INDI) by 14.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,557,287 shares of the company’s stock after selling 3,737,489 shares during the period. Bamco Inc. NY owned 9.82% of indie Semiconductor worth $87,738,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Elemental Capital Partners LLC bought a new stake in shares of indie Semiconductor during the 3rd quarter worth $30,979,000. Vanguard Group Inc. raised its holdings in indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock worth $62,203,000 after acquiring an additional 1,334,145 shares during the period. Handelsbanken Fonder AB acquired a new position in indie Semiconductor during the 2nd quarter worth $276,000. Caxton Associates LLP acquired a new position in indie Semiconductor during the 2nd quarter worth $887,000. Finally, Geode Capital Management LLC boosted its holdings in indie Semiconductor by 9.5% during the second quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock valued at $16,285,000 after acquiring an additional 396,433 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on INDI shares. UBS Group set a $4.25 price target on indie Semiconductor in a research report on Sunday, February 22nd. Wall Street Zen downgraded indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, indie Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $6.45.

Insider Transactions at indie Semiconductor

In other news, COO Michael Wittmann sold 37,500 shares of indie Semiconductor stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $3.50, for a total transaction of $131,250.00. Following the sale, the chief operating officer owned 123,885 shares of the company’s stock, valued at approximately $433,597.50. This trade represents a 23.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Mcclymont sold 100,000 shares of indie Semiconductor stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $4.09, for a total value of $409,000.00. Following the sale, the chief executive officer directly owned 48,130 shares in the company, valued at $196,851.70. The trade was a 67.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 393,420 shares of company stock valued at $1,446,529. 5.60% of the stock is currently owned by insiders.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock opened at $2.48 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10. The company has a market cap of $544.68 million, a PE ratio of -3.40 and a beta of 2.55. The firm has a fifty day moving average price of $3.71 and a two-hundred day moving average price of $4.08. indie Semiconductor, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) EPS. Analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

About indie Semiconductor

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.