Insider Selling: indie Semiconductor (NASDAQ:INDI) President Sells $128,500.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 50,000 shares of indie Semiconductor stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $2.57, for a total transaction of $128,500.00. Following the transaction, the president directly owned 100,952 shares of the company’s stock, valued at approximately $259,446.64. This trade represents a 33.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction 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 transaction of $26,379.96.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $2.56 on Monday. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $6.05. The company has a market capitalization of $572.57 million, a price-to-earnings ratio of -3.51 and a beta of 2.55. The company has a 50-day simple moving average of $3.58 and a 200 day simple moving average of $4.01. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73.

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

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently added to or reduced their stakes in INDI. Primecap Management Co. CA increased its stake in indie Semiconductor by 3.0% during the 4th quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock worth $105,105,000 after acquiring an additional 873,940 shares during the period. Bamco Inc. NY lifted its position in shares of indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after acquiring an additional 4,813,397 shares during the period. Frontier Capital Management Co. LLC grew its holdings 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 worth $63,940,000 after purchasing an additional 4,139,349 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of indie Semiconductor by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock worth $54,693,000 after purchasing an additional 210,463 shares in the last quarter. Finally, Elemental Capital Partners LLC increased its position in shares of indie Semiconductor by 3.8% in the fourth quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock worth $27,897,000 after purchasing an additional 291,111 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

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 Thursday, January 22nd. UBS Group set a $4.25 price objective on indie Semiconductor in a research report on Sunday, February 22nd. Finally, Wall Street Zen downgraded indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.45.

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.