Naixi Wu Sells 23,170 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 23,170 shares of indie Semiconductor stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $3.72, for a total value of $86,192.40. Following the completion of the sale, the chief financial officer owned 156,058 shares of the company’s stock, valued at approximately $580,535.76. The trade was a 12.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, July 2nd, Naixi Wu sold 19,640 shares of indie Semiconductor stock. The stock was sold at an average price of $4.37, for a total value of $85,826.80.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $3.57 on Thursday. The company has a market cap of $827.56 million, a price-to-earnings ratio of -4.89 and a beta of 2.78. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average of $3.91 and a 200-day moving average of $3.75.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $64.01 million during 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%. indie Semiconductor’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, equities analysts forecast that indie Semiconductor, Inc. will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in indie Semiconductor by 486.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,071,494 shares of the company’s stock worth $4,811,000 after purchasing an additional 888,933 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of indie Semiconductor in the second quarter valued at approximately $436,000. Madison Asset Management LLC bought a new position in shares of indie Semiconductor in the second quarter valued at approximately $2,310,000. FNY Investment Advisers LLC purchased a new position in shares of indie Semiconductor during the second quarter valued at approximately $449,000. Finally, Moody National Bank Trust Division grew its holdings in indie Semiconductor by 5.3% during the second quarter. Moody National Bank Trust Division now owns 997,024 shares of the company’s stock worth $4,477,000 after buying an additional 50,364 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INDI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Friday, July 17th. 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 stock a “hold” rating in a report on Monday, July 13th. Roth Capital set a $5.00 price objective on indie Semiconductor in a research note on Friday, August 7th. Finally, UBS Group boosted 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. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.75.

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.