indie Semiconductor (NASDAQ:INDI) Director Sonalee Elizabeth Parekh Sells 59,932 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) Director Sonalee Elizabeth Parekh sold 59,932 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $4.07, for a total value of $243,923.24. Following the completion of the sale, the director directly owned 99,857 shares of the company’s stock, valued at approximately $406,417.99. The trade was a 37.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Sonalee Elizabeth Parekh also recently made the following trade(s):

• On Wednesday, August 12th, Sonalee Elizabeth Parekh sold 20,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.80, for a total value of $76,000.00.

indie Semiconductor Price Performance

Shares of INDI opened at $4.15 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The firm has a market cap of $962.01 million, a PE ratio of -5.68 and a beta of 2.79. The firm’s 50 day moving average price is $3.94 and its 200 day moving average price is $3.75. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The company had revenue of $64.01 million during the quarter, compared to the consensus estimate of $62.49 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. As a group, research analysts expect that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its stake in indie Semiconductor by 32.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock valued at $66,000 after purchasing an additional 3,921 shares during the period. Cetera Investment Advisers lifted its holdings 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 worth $91,000 after buying an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. lifted 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 buying an additional 4,763 shares during the last quarter. Abel Hall LLC boosted its position 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 boosted its position 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. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.