Insider Selling: indie Semiconductor (NASDAQ:INDI) Director Sells $76,000.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) Director Sonalee Elizabeth Parekh sold 20,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $3.80, for a total value of $76,000.00. Following the completion of the transaction, the director directly owned 159,789 shares in the company, valued at $607,198.20. This trade represents a 11.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

indie Semiconductor Price Performance

indie Semiconductor stock opened at $4.71 on Monday. The stock has a market cap of $1.09 billion, a PE ratio of -6.45 and a beta of 2.79. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. The stock’s fifty day moving average is $3.92 and its two-hundred day moving average is $3.75. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The business had revenue of $64.01 million during the quarter, compared to analysts’ expectations of $62.49 million. During the same period in the prior year, the firm posted ($0.08) EPS. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, sell-side analysts expect that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of indie Semiconductor

Large investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in indie Semiconductor by 309.7% during the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of indie Semiconductor by 42.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock valued at $2,040,000 after acquiring an additional 298,339 shares during the period. Millennium Management LLC boosted its holdings in shares of indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after acquiring an additional 3,037,435 shares during the period. JPMorgan Chase & Co. grew its position 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 worth $909,000 after acquiring an additional 13,495 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of indie Semiconductor by 24.3% during the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock worth $1,065,000 after acquiring an additional 58,473 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.