Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $15,060.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $2.51, for a total transaction of $15,060.00. Following the transaction, the chief financial officer owned 71,188 shares of the company’s stock, valued at approximately $178,681.88. The trade was a 7.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, March 4th, Naixi Wu sold 531 shares of indie Semiconductor stock. The shares were sold at an average price of $2.53, for a total transaction of $1,343.43.
• On Monday, March 2nd, Naixi Wu sold 17,162 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total transaction of $61,096.72.
• 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.

indie Semiconductor Price Performance

INDI stock opened at $2.61 on Friday. The company has a quick ratio of 3.10, a current ratio of 3.73 and a debt-to-equity ratio of 0.88. The firm has a market cap of $573.23 million, a price-to-earnings ratio of -3.58 and a beta of 2.55. The company’s fifty day simple moving average is $3.60 and its 200 day simple moving average is $4.02. indie Semiconductor, Inc. has a 12-month low of $1.53 and a 12-month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). The firm 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 business’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted ($0.07) EPS. On average, analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Trading of indie Semiconductor

Several hedge funds have recently bought and sold shares of the business. Evergreen Capital Management LLC acquired a new position in indie Semiconductor during the second quarter worth $37,000. Gainplan LLC acquired a new position in shares of indie Semiconductor during the fourth quarter valued at about $39,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after buying an additional 10,999 shares during the last quarter. Jump Financial LLC bought a new stake in shares of indie Semiconductor during the second quarter worth about $39,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of indie Semiconductor in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

INDI has been the subject of several recent analyst reports. UBS Group set a $4.25 price objective on shares of indie Semiconductor in a research report on Sunday, February 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.45.

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.