indie Semiconductor (NASDAQ:INDI) Stock: Insider Naixi Wu Sells 33,333 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 33,333 shares of indie Semiconductor stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $2.05, for a total transaction of $68,332.65. Following the completion of the transaction, the chief financial officer owned 196,516 shares in the company, valued at approximately $402,857.80. This trade represents a 14.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, November 2nd, Naixi Wu sold 6,250 shares of indie Semiconductor stock. The stock was sold at an average price of $1.59, for a total value of $9,937.50.
• On Monday, September 21st, Naixi Wu sold 3,750 shares of indie Semiconductor stock. The stock was sold at an average price of $3.18, for a total value of $11,925.00.
• On Wednesday, September 2nd, Naixi Wu sold 21,171 shares of indie Semiconductor stock. The shares were sold at an average price of $3.54, for a total value of $74,945.34.
• 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 value 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.

indie Semiconductor Stock Performance

Shares of indie Semiconductor stock opened at $2.30 on Thursday. The firm has a market cap of $533.16 million, a PE ratio of -3.19 and a beta of 3.10. The company has a quick ratio of 2.86, a current ratio of 3.37 and a debt-to-equity ratio of 1.28. indie Semiconductor, Inc. has a 52 week low of $1.34 and a 52 week high of $5.49. The business’s fifty day simple moving average is $2.51 and its 200-day simple moving average is $3.45.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $70.24 million for the quarter, compared to analyst estimates of $70.21 million. indie Semiconductor had a negative return on equity of 34.86% and a negative net margin of 61.02%. The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) earnings per share. Equities analysts forecast that indie Semiconductor, Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds have recently bought and sold shares of the company. Granahan Investment Management LLC boosted its holdings in indie Semiconductor by 17.8% during the 1st 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. Elemental Capital Partners LLC increased its stake in indie Semiconductor by 0.5% during the third quarter. Elemental Capital Partners LLC now owns 13,372,249 shares of the company’s stock worth $39,114,000 after purchasing an additional 62,806 shares during the period. Dimensional Fund Advisors LP increased its stake in indie Semiconductor by 19.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,873,776 shares of the company’s stock worth $6,033,000 after purchasing an additional 308,620 shares during the period. Moody National Bank Trust Division lifted its position in shares of indie Semiconductor by 0.4% during the third quarter. Moody National Bank Trust Division now owns 1,000,840 shares of the company’s stock worth $2,927,000 after purchasing an additional 3,816 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of indie Semiconductor by 0.9% during the first quarter. Bank of America Corp DE now owns 875,146 shares of the company’s stock worth $2,818,000 after purchasing an additional 7,875 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on INDI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, October 15th. TD Cowen decreased their price objective on shares of indie Semiconductor from $4.50 to $2.00 and set a “hold” rating on the stock in a report on Monday, October 19th. B. Riley Financial lowered their price objective on shares of indie Semiconductor from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, November 6th. Finally, Roth Capital set a $5.00 target price on shares of indie Semiconductor in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, indie Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $3.94.

About indie Semiconductor

indie Semiconductor, Inc. is a fabless semiconductor company that develops automotive technologies for advanced driver-assistance systems (ADAS), automated driving, in-cabin experiences, vehicle connectivity and electrification. Its products combine analog and mixed-signal circuits with digital processing and software for use in vehicle systems. The company’s offerings support applications such as radar, lidar, computer vision, ultrasonic sensing, audio and vehicle networking. Automakers and automotive suppliers use its technologies to help enable sensing, safety and other electronic functions in vehicles.