indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 17,162 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 17,162 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $3.56, for a total value of $61,096.72. Following the completion of the transaction, the chief financial officer owned 76,969 shares of the company’s stock, valued at approximately $274,009.64. The trade was a 18.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 5th, Naixi Wu sold 12,448 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total value of $45,684.16.
• On Monday, December 22nd, Naixi Wu sold 6,354 shares of indie Semiconductor stock. The stock was sold at an average price of $3.86, for a total value of $24,526.44.
• On Thursday, December 11th, Naixi Wu sold 10,386 shares of indie Semiconductor stock. The shares were sold at an average price of $4.44, for a total value of $46,113.84.
• On Wednesday, December 10th, Naixi Wu sold 10,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.53, for a total transaction of $45,300.00.

indie Semiconductor Stock Down 7.1%

Shares of indie Semiconductor stock traded down $0.26 during midday trading on Monday, hitting $3.40. The company had a trading volume of 2,830,657 shares, compared to its average volume of 3,474,238. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. The stock has a market capitalization of $746.74 million, a P/E ratio of -4.66 and a beta of 2.55. The company has a 50 day moving average of $3.89 and a 200 day moving average of $4.19. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). indie Semiconductor had a negative return on equity of 28.81% and a negative net margin of 66.23%.The business had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. During the same period in the previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in shares of indie Semiconductor by 9.0% in the second quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock worth $142,000 after purchasing an additional 3,300 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of indie Semiconductor by 9.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock valued at $162,000 after buying an additional 3,898 shares in the last quarter. CWM LLC boosted its holdings in indie Semiconductor by 34.7% in the 2nd quarter. CWM LLC now owns 15,215 shares of the company’s stock worth $54,000 after buying an additional 3,916 shares during the period. Envestnet Asset Management Inc. increased its stake in indie Semiconductor by 32.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after buying an additional 3,921 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in indie Semiconductor by 27.0% during the second quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock valued at $71,000 after acquiring an additional 4,207 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. Finally, UBS Group set a $4.25 target price on shares of indie Semiconductor in a research report on Sunday, February 22nd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.45.

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.