In the latest trading session, 0.67 million Indie Semiconductor Inc (NASDAQ:INDI) shares changed hands as the company’s beta touched 1.13. With the company’s most recent per share price at $6.21 changing hands around $0.01 or 0.16% at last look, the market valuation stands at $1.14B. INDI’s current price is a discount, trading about -77.78% off its 52-week high of $11.04. The share price had its 52-week low at $4.67, which suggests the last value was 24.8% up since then. When we look at Indie Semiconductor Inc’s average trading volume, we note the 10-day average is 2.54 million shares, with the 3-month average coming to 2.38 million.
Indie Semiconductor Inc (NASDAQ:INDI) trade information
Instantly INDI is in green as seen in intraday trades today. With action -0.32%, the performance over the past five days has been red. The jump to weekly highs of 7.10 added 0.16% to the stock’s daily price. The company’s shares are showing year-to-date downside of -23.43%, with the 5-day performance at -0.32% in the red. However, in the 30-day time frame, Indie Semiconductor Inc (NASDAQ:INDI) is 4.72% up. Looking at the short shares, we see there were 21.09 million shares sold at short interest cover period of 7.96 days.
Indie Semiconductor Inc (INDI) estimates and forecasts
Data shows that the Indie Semiconductor Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -7.17% over the past 6 months, a 38.24% in annual growth rate that is considerably higher than the industry average of 1.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Indie Semiconductor Inc will rise 20.00%, while the growth in revenue is estimated to hit 30.00% for the next quarter. Year-over-year growth is forecast to reach 26.80% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $56.17 million. 7 analysts are of the opinion that Indie Semiconductor Inc’s revenue for the quarter ending Jun 2024 will be $60.72 million. The company’s revenue for the corresponding quarters a year ago was $40 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 40.40%.
The 2024 estimates are for Indie Semiconductor Inc earnings to increase by 31.06%.
INDI Dividends
Indie Semiconductor Inc is expected to release its next quarterly earnings report between May 13 and May 17.
Indie Semiconductor Inc (NASDAQ:INDI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 13.73% of Indie Semiconductor Inc shares while 77.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 89.69%. There are 77.38% institutions holding the Indie Semiconductor Inc stock share, with Granahan Investment Management LLC the top institutional holder. As of Dec 30, 2023, the company held 8.02% of the shares, roughly 13.19 million INDI shares worth $81.81 million.
BAMCO Inc. holds the second largest percentage of outstanding shares, with 6.79% or 11.16 million shares worth $69.22 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF. With 4.56 million shares estimated at $28.26 million under it, the former controlled 2.77% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Semiconductor ETF held about 2.70% of the shares, roughly 4.43 million shares worth around $27.5 million.
