indie Semiconductor (NASDAQ:INDI) CFO Sells $29,640.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,000 shares of indie Semiconductor stock in a transaction on Monday, June 1st. The shares were sold at an average price of $4.94, for a total transaction of $29,640.00. Following the completion of the transaction, the chief financial officer owned 114,787 shares in the company, valued at approximately $567,047.78. This trade represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, June 2nd, Naixi Wu sold 12,898 shares of indie Semiconductor stock. The shares were sold at an average price of $5.12, for a total transaction of $66,037.76.
• 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 Stock Performance

NASDAQ:INDI opened at $4.05 on Friday. The firm’s fifty day moving average price is $3.91 and its 200 day moving average price is $3.75. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The firm has a market cap of $918.95 million, a price-to-earnings ratio of -5.33 and a beta of 2.73.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on INDI. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, UBS Group raised their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. raised its stake in shares of indie Semiconductor by 7,163.7% during the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after buying an additional 8,095 shares during the last quarter. Bank of America Corp DE raised its stake in shares of indie Semiconductor by 0.9% during the 1st quarter. Bank of America Corp DE now owns 875,146 shares of the company’s stock worth $2,818,000 after buying an additional 7,875 shares during the last quarter. Granahan Investment Management LLC raised its stake in shares of indie Semiconductor by 17.8% during the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock worth $65,314,000 after buying an additional 3,067,255 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in shares of indie Semiconductor by 10.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 784,675 shares of the company’s stock worth $2,527,000 after buying an additional 75,550 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of indie Semiconductor by 81.5% during the 1st quarter. First Trust Advisors LP now owns 339,424 shares of the company’s stock worth $1,093,000 after buying an additional 152,463 shares during the last quarter. 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.