Naixi Wu Sells 21,171 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 21,171 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $3.54, for a total transaction of $74,945.34. Following the transaction, the chief financial officer owned 153,183 shares in the company, valued at approximately $542,267.82. This trade represents a 12.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total transaction of $21,360.00.
• On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The shares were sold at an average price of $3.72, for a total value of $86,192.40.
• On Thursday, July 2nd, Naixi Wu sold 19,640 shares of indie Semiconductor stock. The stock was sold at an average price of $4.37, for a total value of $85,826.80.

indie Semiconductor Price Performance

Shares of INDI traded down $0.10 during mid-day trading on Thursday, hitting $3.47. The company’s stock had a trading volume of 3,273,209 shares, compared to its average volume of 7,549,274. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05. The firm has a market capitalization of $804.38 million, a P/E ratio of -4.75 and a beta of 2.78. The firm has a 50-day simple moving average of $3.90 and a 200 day simple moving average of $3.74.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The firm had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. indie Semiconductor’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts predict that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on INDI. UBS Group boosted their price objective on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. Roth Capital set a $5.00 price target on indie Semiconductor in a report on Friday, August 7th. TD Cowen raised their price objective on indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.75.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the business. Madison Asset Management LLC purchased a new stake in shares of indie Semiconductor in the second quarter valued at $2,310,000. Dimensional Fund Advisors LP raised its stake in indie Semiconductor by 19.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,776 shares of the company’s stock valued at $6,033,000 after purchasing an additional 308,620 shares during the last quarter. Wasatch Advisors LP raised its stake in indie Semiconductor by 130.0% in the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after purchasing an additional 2,154,279 shares during the last quarter. General American Investors Co. Inc. lifted its holdings in indie Semiconductor by 14.7% in the 4th quarter. General American Investors Co. Inc. now owns 1,954,849 shares of the company’s stock valued at $6,901,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Elemental Capital Partners LLC boosted its stake in shares of indie Semiconductor by 60.0% during the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock worth $40,715,000 after purchasing an additional 4,741,680 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.