Lord, Abbett & Co. LLC has recently announced that it has increased stake in indie Semiconductor Inc. (NASDAQ:INDI) by 8.71%. After grabbing 6.15 million shares, the institutional investor is now in possession of 0.49 million shares of the Technology Company. The new investment brought the stake of investor firm to 4.85% having worth around $46.54 million. Moreover, BlackRock Fund Advisors increased its share by 6581.0 to have a control over 5.85 million shares. And BAMCO, Inc. raised its holdings to 94622.0 shares by acquiring 5.53 million shares or 4.36% of the stake.
indie Semiconductor Inc. (INDI) concluded trading on 05/25/23 at a closing price of $9.09, with 1.41 million shares of worth about $12.83 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 17.29% during that period and on Thursday the price saw a gain of about 1.91%. Currently the company’s common shares owned by public are about 131.49M shares, out of which, 81.04M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the INDI stock and their offered price forecasts bring an average price target of $15.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.00 and could fall to a lowest price of $12.00. The stock’s current price level is 41.99% above of average price target set by the analysts, while a rise to estimated low would result in gain of 24.25% for the stock. However, touching the estimated high of $20.00 would mean a gain of 54.55% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 95 times over the past 12 months. They bought 1,095,075 shares in 37 of the transactions. In 58 selling transactions, insiders dumped 2,170,956 shares.
Lord Abbett Developing Growth Fun, Baron Discovery Fund, and JNL Multi-Manager Small Cap Growt are the top 3 mutual funds which are holding stakes in indie Semiconductor Inc. Lord Abbett Developing Growth Fun is currently holding 3.27 million shares of worth totaling $24.73 million. The company recently came buying 2.0 million shares which brought its stake up to 2.58% of the company’s outstanding shares. JNL Multi-Manager Small Cap Growt, after buying 2.64 million shares, have now control over 2.08% of the stake in the company. It holds 0.88 million shares of worth $20.0 million.
indie Semiconductor Inc. (NASDAQ: INDI) started trading at $9.29, above $0.37 from concluding price of the previous day. Stock saw a price change of 0.11% in past 5 days and over the past one month there was a price change of 9.52%. Year-to-date (YTD), INDI shares are showing a performance of 55.92% which increased to 39.85% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.22 but also hit the highest price of $11.12 during that period. The average intraday trading volume for indie Semiconductor Inc. shares is 1.98 million. The stock is currently trading 9.76% above its 20-day simple moving average (SMA20), while that difference is down -0.06% for SMA50 and it goes to 10.74% higher than SMA200.
Lord, Abbett & Co. LLC acquired 6.15 million shares of indie Semiconductor Inc. having value of about $46.54 million. Data submitted at the U.S SEC by Lord, Abbett & Co. LLC revealed that the firm now holds 0.49 million shares in the company valued at close to $4478870.25, or have control over 8.71% stake in the company. indie Semiconductor Inc. (NASDAQ: INDI) currently have 131.49M outstanding shares and institutions hold larger chunk of about 61.90% of that. Holding of mutual funds in the company is about 28.13% while other institutional holders and individual stake holders have control over 39.19% and 13.80% of the stake respectively.
The stock has a current market capitalization of $1.51B and its 3Y-monthly beta is at 0.81. It has posted earnings per share of -$1.00 in the same period. It has Quick Ratio of 2.20 while making debt-to-equity ratio of 0.44. 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 4.56% while standing at 5.16% over the month.
Analysts are in expectations that indie Semiconductor Inc. (INDI) stock would likely to be making an EPS of -$0.09 in the current quarter, while forecast for next quarter EPS is -$0.04 and it is $0.31 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.11 which is -$0.09 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 42.40% while it is estimated to increase by 263.20% in next year.
Analysts at 6 brokerage firms have issued recommendations for the indie Semiconductor Inc. (INDI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 6 Wall Street analysts, 6 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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