indie Semiconductor (NASDAQ:INDI) CFO Sells $66,037.76 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 12,898 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $5.12, for a total transaction of $66,037.76. Following the completion of the transaction, the chief financial officer directly owned 114,787 shares in the company, valued at $587,709.44. This trade represents a 10.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $2.51, for a total transaction of $15,060.00.

indie Semiconductor Price Performance

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

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate 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 the consensus estimate of $55.09 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of indie Semiconductor by 32.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock valued at $66,000 after acquiring an additional 3,921 shares during the period. Cetera Investment Advisers raised its stake in shares of indie Semiconductor by 20.5% in the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after acquiring an additional 4,365 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of indie Semiconductor by 33.1% in the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock valued at $68,000 after acquiring an additional 4,763 shares during the period. Abel Hall LLC raised its stake in shares of indie Semiconductor by 42.3% in the fourth quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock valued at $60,000 after acquiring an additional 5,030 shares during the period. Finally, Verition Fund Management LLC raised its stake in shares of indie Semiconductor by 1.9% in the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock valued at $948,000 after acquiring an additional 5,055 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.