Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $45,300.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $4.53, for a total transaction of $45,300.00. Following the sale, the chief financial officer directly owned 77,928 shares of the company’s stock, valued at $353,013.84. This represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, December 11th, Naixi Wu sold 10,386 shares of indie Semiconductor stock. The stock was sold at an average price of $4.44, for a total transaction of $46,113.84.
• On Friday, November 21st, Naixi Wu sold 7,096 shares of indie Semiconductor stock. The shares were sold at an average price of $3.30, for a total transaction of $23,416.80.
• On Tuesday, November 11th, Naixi Wu sold 5,261 shares of indie Semiconductor stock. The stock was sold at an average price of $4.18, for a total transaction of $21,990.98.

indie Semiconductor Trading Down 4.2%

NASDAQ INDI opened at $4.29 on Monday. The firm’s 50 day moving average price is $4.53 and its two-hundred day moving average price is $4.11. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $6.05. The stock has a market cap of $942.21 million, a price-to-earnings ratio of -5.72 and a beta of 2.60.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The business had revenue of $53.68 million during the quarter, compared to analysts’ expectations of $53.98 million. During the same quarter in the previous year, the company earned ($0.09) EPS. indie Semiconductor’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On indie Semiconductor

Large investors have recently made changes to their positions in the company. Elemental Capital Partners LLC bought a new stake in shares of indie Semiconductor during the 3rd quarter worth about $30,979,000. Tudor Investment Corp ET AL bought a new position in shares of indie Semiconductor in the 3rd quarter valued at approximately $22,385,000. Bamco Inc. NY lifted its holdings in indie Semiconductor by 23.5% in the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after purchasing an additional 4,813,397 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in indie Semiconductor by 29.9% during the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock worth $63,940,000 after purchasing an additional 4,139,349 shares during the period. Finally, Millennium Management LLC boosted its position in 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 purchasing an additional 3,037,435 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on INDI. Roth Capital reaffirmed a “buy” rating and set a $8.00 target price on shares of indie Semiconductor in a research note on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, UBS Group increased their target price on shares of indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.60.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.