indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 19,640 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 19,640 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $4.37, for a total value of $85,826.80. Following the completion of the sale, the chief financial officer directly owned 134,425 shares of the company’s stock, valued at approximately $587,437.25. The trade was a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, June 2nd, Naixi Wu sold 12,898 shares of indie Semiconductor stock. The stock was sold at an average price of $5.12, for a total value of $66,037.76.
• On Monday, June 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $4.94, for a total value of $29,640.00.
• On Thursday, April 9th, Naixi Wu sold 55,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.81, for a total value of $154,550.00.

indie Semiconductor Stock Performance

INDI stock traded up $0.30 during midday trading on Monday, reaching $4.63. 6,352,673 shares of the company were exchanged, compared to its average volume of 5,117,980. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The business has a 50-day moving average price of $4.29 and a two-hundred day moving average price of $3.77. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -6.09 and a beta of 2.75.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The company had revenue of $55.46 million for the quarter, compared to the consensus estimate of $55.09 million. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INDI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group upped their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, TD Cowen started coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.58.

Institutional Trading of indie Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of INDI. ArrowMark Colorado Holdings LLC purchased a new position in shares of indie Semiconductor in the third quarter worth about $3,931,000. Tudor Investment Corp ET AL bought a new position in indie Semiconductor in the 3rd quarter worth approximately $22,385,000. Wasatch Advisors LP boosted its holdings in indie Semiconductor by 130.0% in the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock worth $12,272,000 after buying an additional 2,154,279 shares during the period. General American Investors Co. Inc. raised its holdings in indie Semiconductor by 14.7% during the 4th quarter. General American Investors Co. Inc. now owns 1,954,849 shares of the company’s stock valued at $6,901,000 after acquiring an additional 250,000 shares during the period. Finally, Elemental Capital Partners LLC raised its holdings in indie Semiconductor by 3.8% during the 4th quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock valued at $27,897,000 after acquiring an additional 291,111 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.