Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $85,826.80 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 19,640 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $4.37, for a total transaction of $85,826.80. Following the transaction, the chief financial officer owned 134,425 shares in the company, valued at approximately $587,437.25. The trade was a 12.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction 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 transaction of $29,640.00.
• On Thursday, April 9th, Naixi Wu sold 55,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.81, for a total value of $154,550.00.

indie Semiconductor Price Performance

INDI stock opened at $4.37 on Thursday. The company has a market cap of $991.55 million, a PE ratio of -5.75 and a beta of 2.75. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $4.33 and a two-hundred day moving average price of $3.78.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly 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 net margin of 69.76% and a negative return on equity of 29.85%. The firm had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. During the same quarter last year, the firm posted ($0.08) earnings per share. indie Semiconductor’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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

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.