Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $61,096.72 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 17,162 shares of the business’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 transaction of $61,096.72. Following the transaction, the chief financial officer owned 76,969 shares of the company’s stock, valued at approximately $274,009.64. This represents a 18.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 transaction 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 transaction 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 transaction 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 transaction of $45,300.00.

indie Semiconductor Stock Performance

Shares of indie Semiconductor stock opened at $2.58 on Thursday. The stock’s fifty day simple moving average is $3.86 and its 200 day simple moving average is $4.17. The company has a current ratio of 3.73, a quick ratio of 3.18 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $566.65 million, a PE ratio of -3.53 and a beta of 2.55. indie Semiconductor, Inc. has a 12 month low of $1.53 and a 12 month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $58.01 million during the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) earnings per share. On average, research analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Institutional Trading of indie Semiconductor

A number of institutional investors have recently made changes to their positions in INDI. Nisa Investment Advisors LLC increased its position in shares of indie Semiconductor by 356.3% in the second quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock valued at $34,000 after acquiring an additional 7,536 shares during the last quarter. Evergreen Capital Management LLC bought a new position in indie Semiconductor in the second quarter valued at approximately $37,000. Gainplan LLC acquired a new position in shares of indie Semiconductor during the 4th quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd raised its stake in shares of indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after purchasing an additional 10,999 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of indie Semiconductor in the 2nd quarter valued at approximately $39,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Finally, UBS Group set a $4.25 target price on shares of indie Semiconductor in a research note on Sunday, February 22nd. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.