Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells 5,876 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 5,876 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $2.99, for a total transaction of $17,569.24. Following the completion of the sale, the chief financial officer owned 75,787 shares in the company, valued at $226,603.13. This represents a 7.20% 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 Friday, March 13th, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.51, for a total transaction of $15,060.00.
• On Wednesday, March 4th, Naixi Wu sold 531 shares of indie Semiconductor stock. The shares were sold at an average price of $2.53, for a total transaction of $1,343.43.
• On Monday, March 2nd, Naixi Wu sold 17,162 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total transaction of $61,096.72.

indie Semiconductor Price Performance

Shares of INDI stock traded down $0.05 during trading hours on Tuesday, hitting $2.89. The company’s stock had a trading volume of 2,570,369 shares, compared to its average volume of 4,549,985. The business has a fifty day moving average of $3.28 and a 200-day moving average of $3.93. The stock has a market cap of $646.38 million, a price-to-earnings ratio of -3.96 and a beta of 2.56. indie Semiconductor, Inc. has a twelve month low of $1.60 and a twelve month high of $6.05. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $58.01 million for the quarter, compared to analyst estimates of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) earnings per share. As a group, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of indie Semiconductor

Hedge funds have recently bought and sold shares of the company. Elemental Capital Partners LLC acquired a new stake in indie Semiconductor during the third quarter worth approximately $30,979,000. Vanguard Group Inc. boosted its position in indie Semiconductor by 9.6% during the third 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 last quarter. Caxton Associates LLP acquired a new stake in indie Semiconductor during the second quarter worth approximately $887,000. Bamco Inc. NY raised its stake in indie Semiconductor by 23.5% during the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after purchasing an additional 4,813,397 shares during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new position in indie Semiconductor during the third quarter worth approximately $3,931,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Company 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.