Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells 17,162 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 17,162 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $3.56, for a total transaction of $61,096.72. Following the completion of the transaction, the chief financial officer owned 76,969 shares in the company, valued at approximately $274,009.64. The trade was a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Naixi Wu also recently made the following trade(s):

• On Monday, January 5th, Naixi Wu sold 12,448 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total transaction of $45,684.16.
• On Monday, December 22nd, Naixi Wu sold 6,354 shares of indie Semiconductor stock. The shares were sold at an average price of $3.86, for a total value of $24,526.44.
• On Thursday, December 11th, Naixi Wu sold 10,386 shares of indie Semiconductor stock. The shares were sold at an average price of $4.44, for a total value of $46,113.84.
• On Wednesday, December 10th, Naixi Wu sold 10,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.53, for a total value of $45,300.00.

indie Semiconductor Stock Performance

indie Semiconductor stock traded down $0.26 during mid-day trading on Monday, reaching $3.40. The company’s stock had a trading volume of 2,830,657 shares, compared to its average volume of 3,474,238. The firm’s fifty day moving average price is $3.89 and its two-hundred day moving average price is $4.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. indie Semiconductor, Inc. has a 12-month low of $1.53 and a 12-month high of $6.05. The company has a market capitalization of $746.74 million, a P/E ratio of -4.66 and a beta of 2.55.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 28.81%. The business had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.11 million. During the same period in the prior year, the company posted ($0.07) EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On indie Semiconductor

Large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in shares of indie Semiconductor by 356.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock worth $34,000 after purchasing an additional 7,536 shares during the period. HBK Sorce Advisory LLC purchased a new position in shares of indie Semiconductor during the third quarter valued at about $41,000. Evergreen Capital Management LLC bought a new position in indie Semiconductor in the second quarter worth about $37,000. Jump Financial LLC bought a new position in indie Semiconductor in the second quarter worth about $39,000. Finally, Gainplan LLC purchased a new stake in indie Semiconductor in the fourth quarter worth about $39,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.