indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 12,898 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 12,898 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $5.12, for a total transaction of $66,037.76. Following the sale, the chief financial officer owned 114,787 shares in the company, valued at $587,709.44. This represents a 10.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, June 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $4.94, for a total transaction of $29,640.00.
• On Thursday, April 9th, Naixi Wu sold 55,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.81, for a total transaction of $154,550.00.
• On Monday, April 6th, Naixi Wu sold 5,876 shares of indie Semiconductor stock. The shares were sold at an average price of $2.99, for a total transaction of $17,569.24.
• 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.

indie Semiconductor Trading Down 4.3%

INDI opened at $4.88 on Thursday. The firm has a market capitalization of $1.11 billion, a P/E ratio of -6.42 and a beta of 2.73. The firm’s 50 day moving average is $3.86 and its 200-day moving average is $3.74. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) earnings per share. Analysts expect that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of INDI. Tudor Investment Corp ET AL acquired a new position in shares of indie Semiconductor during the third quarter valued at $22,385,000. Elemental Capital Partners LLC boosted its holdings in shares of indie Semiconductor by 60.0% during the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock valued at $40,715,000 after acquiring an additional 4,741,680 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of indie Semiconductor by 17.8% during the first quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock valued at $65,314,000 after acquiring an additional 3,067,255 shares during the period. Millennium Management LLC boosted its holdings in shares of indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after acquiring an additional 3,037,435 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in shares of indie Semiconductor by 130.0% during the first quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after acquiring an additional 2,154,279 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

INDI has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Finally, UBS Group lifted their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.92.

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.