Ichiro Aoki Sells 50,000 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 50,000 shares of indie Semiconductor stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $2.83, for a total transaction of $141,500.00. Following the transaction, the president owned 100,952 shares of the company’s stock, valued at $285,694.16. This represents a 33.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ichiro Aoki also recently made the following trade(s):

• On Thursday, March 19th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.57, for a total transaction of $128,500.00.
• On Monday, March 16th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.54, for a total transaction of $127,000.00.
• On Monday, March 2nd, Ichiro Aoki sold 4,573 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total value of $16,279.88.
• On Monday, January 5th, Ichiro Aoki sold 7,188 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total value of $26,379.96.

indie Semiconductor Stock Performance

Shares of indie Semiconductor stock opened at $3.24 on Friday. The company has a market cap of $724.66 million, a PE ratio of -4.44 and a beta of 2.55. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $6.05. The business has a 50 day moving average price of $3.49 and a 200-day moving average price of $3.97. The company has a quick ratio of 3.10, a current ratio of 3.73 and a debt-to-equity ratio of 0.88.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The company had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.11 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. indie Semiconductor’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INDI. UBS Group set a $4.25 price objective on shares of indie Semiconductor in a report on Sunday, February 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elemental Capital Partners LLC bought a new stake in indie Semiconductor in the 3rd quarter valued at about $30,979,000. Tudor Investment Corp ET AL purchased a new position in shares of indie Semiconductor in the third quarter worth about $22,385,000. Bamco Inc. NY raised its position in shares of indie Semiconductor by 23.5% in the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after purchasing an additional 4,813,397 shares during the period. Frontier Capital Management Co. LLC lifted its stake in shares of indie Semiconductor by 29.9% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock valued at $63,940,000 after buying an additional 4,139,349 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of 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 buying an additional 3,037,435 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.