Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $24,526.44 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,354 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $3.86, for a total transaction of $24,526.44. Following the transaction, the chief financial officer directly owned 67,542 shares of the company’s stock, valued at $260,712.12. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 shares were sold at an average price of $4.53, for a total value of $45,300.00.
• On Friday, November 21st, Naixi Wu sold 7,096 shares of indie Semiconductor stock. The shares were sold at an average price of $3.30, for a total value of $23,416.80.
• On Tuesday, November 11th, Naixi Wu sold 5,261 shares of indie Semiconductor stock. The shares were sold at an average price of $4.18, for a total value of $21,990.98.

indie Semiconductor Stock Up 1.8%

INDI stock opened at $3.77 on Friday. The stock has a fifty day moving average of $4.34 and a 200-day moving average of $4.16. indie Semiconductor, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $6.05. The company has a market capitalization of $826.91 million, a price-to-earnings ratio of -5.02 and a beta of 2.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $53.68 million for the quarter, compared to analysts’ expectations of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. indie Semiconductor’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned ($0.09) earnings per share. As a group, equities research analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently added to or reduced their stakes in INDI. Handelsbanken Fonder AB purchased a new position in shares of indie Semiconductor in the 2nd quarter worth about $276,000. Fred Alger Management LLC purchased a new stake in indie Semiconductor in the first quarter worth approximately $2,527,000. Caxton Associates LLP bought a new position in indie Semiconductor during the second quarter valued at approximately $887,000. Geode Capital Management LLC lifted its holdings in shares of indie Semiconductor by 9.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock worth $16,285,000 after acquiring an additional 396,433 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in shares of indie Semiconductor by 23.5% in the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after purchasing an additional 4,813,397 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

INDI has been the subject of a number of recent research reports. UBS Group lifted their price objective on shares of indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a research note on Monday, November 10th. Roth Capital reiterated a “buy” rating and issued a $8.00 price target on shares of indie Semiconductor in a research report on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, indie Semiconductor currently has a consensus rating of “Moderate Buy” and an average target price of $6.60.

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.