indie Semiconductor (NASDAQ:INDI) Director Sonalee Elizabeth Parekh Sells 20,000 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) Director Sonalee Elizabeth Parekh sold 20,000 shares of indie Semiconductor stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $3.80, for a total value of $76,000.00. Following the completion of the sale, the director owned 159,789 shares of the company’s stock, valued at approximately $607,198.20. The trade was a 11.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

indie Semiconductor Trading Up 13.8%

indie Semiconductor stock traded up $0.57 during trading hours on Friday, reaching $4.71. 12,462,121 shares of the company’s stock traded hands, compared to its average volume of 5,282,724. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. indie Semiconductor, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $6.05. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.45 and a beta of 2.79. The firm’s 50 day moving average is $3.91 and its 200-day moving average is $3.75.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $64.01 million during the quarter, compared to analysts’ expectations of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 30.89%. indie Semiconductor’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) EPS. On average, analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in indie Semiconductor by 32.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after acquiring an additional 3,921 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of indie Semiconductor by 20.5% during the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after purchasing an additional 4,365 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of indie Semiconductor by 33.1% during the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after purchasing an additional 4,763 shares during the last quarter. Abel Hall LLC grew its holdings in shares of indie Semiconductor by 42.3% during the fourth quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock worth $60,000 after purchasing an additional 5,030 shares during the last quarter. Finally, Verition Fund Management LLC increased 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 buying an additional 5,055 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.