indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 19,640 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 19,640 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $4.37, for a total value of $85,826.80. Following the transaction, the chief financial officer directly owned 134,425 shares in the company, valued at approximately $587,437.25. This trade represents a 12.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $5.12, for a total value of $66,037.76.
• On Monday, June 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.94, for a total value of $29,640.00.
• On Thursday, April 9th, Naixi Wu sold 55,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.81, for a total value of $154,550.00.

indie Semiconductor Trading Down 5.9%

Shares of indie Semiconductor stock opened at $4.36 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The business has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $3.78. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The company has a market capitalization of $988.38 million, a price-to-earnings ratio of -5.73 and a beta of 2.75.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting 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 business had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. indie Semiconductor’s revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in indie Semiconductor by 309.7% during the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock worth $1,122,000 after purchasing an additional 416,519 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of indie Semiconductor by 42.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after buying an additional 298,339 shares during the last quarter. Millennium Management LLC increased its holdings in shares of 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 buying an additional 3,037,435 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 buying an additional 13,495 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of indie Semiconductor by 24.3% in the 2nd quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after acquiring an additional 58,473 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on INDI. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. UBS Group increased their price objective 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 started coverage on indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price for the company. Finally, Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.