Insider Selling: indie Semiconductor (NASDAQ:INDI) Insider Sells 3,138 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) insider Thomas Schiller sold 3,138 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $3.72, for a total transaction of $11,673.36. Following the completion of the sale, the insider owned 487,167 shares in the company, valued at $1,812,261.24. This represents a 0.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Thomas Schiller also recently made the following trade(s):

• On Thursday, July 2nd, Thomas Schiller sold 1,833 shares of indie Semiconductor stock. The stock was sold at an average price of $4.45, for a total transaction of $8,156.85.

indie Semiconductor Price Performance

INDI stock traded down $0.16 during trading on Tuesday, hitting $3.55. 4,218,385 shares of the stock traded hands, compared to its average volume of 5,406,063. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05. The stock has a market cap of $822.93 million, a price-to-earnings ratio of -4.86 and a beta of 2.79. The company has a 50 day simple moving average of $3.91 and a 200 day simple moving average of $3.75. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in indie Semiconductor by 309.7% during the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock worth $1,122,000 after buying an additional 416,519 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of indie Semiconductor by 42.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after acquiring an additional 298,339 shares during the last quarter. Millennium Management LLC raised its position in shares of indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after acquiring an additional 3,037,435 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of indie Semiconductor by 5.6% during the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock valued at $909,000 after acquiring an additional 13,495 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of indie Semiconductor by 24.3% during the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after acquiring an additional 58,473 shares during the period. Institutional investors own 67.73% of the company’s stock.

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.