Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $154,550.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 55,000 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $2.81, for a total value of $154,550.00. Following the sale, the chief financial officer owned 120,787 shares in the company, valued at approximately $339,411.47. This trade represents a 31.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Naixi Wu also recently made the following trade(s):

• On Monday, April 6th, Naixi Wu sold 5,876 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total value of $17,569.24.
• On Friday, March 13th, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.51, for a total value of $15,060.00.
• On Wednesday, March 4th, Naixi Wu sold 531 shares of indie Semiconductor stock. The stock was sold at an average price of $2.53, for a total value of $1,343.43.
• On Monday, March 2nd, Naixi Wu sold 17,162 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total value of $61,096.72.

indie Semiconductor Stock Performance

Shares of indie Semiconductor stock opened at $2.91 on Monday. indie Semiconductor, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $6.05. The firm has a market cap of $650.85 million, a PE ratio of -3.99 and a beta of 2.56. The business’s fifty day moving average is $3.19 and its two-hundred day moving average is $3.90. 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 issued its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $57.11 million. During the same quarter in the prior year, the company posted ($0.07) EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INDI shares. UBS Group set a $4.25 price target on indie Semiconductor in a research note on Sunday, February 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.45.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position in shares of indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after buying an additional 10,999 shares during the period. Virtu Financial LLC purchased a new position in shares of indie Semiconductor in the 4th quarter worth $178,000. Invesco Ltd. raised its position in shares of indie Semiconductor by 20.9% in the 4th quarter. Invesco Ltd. now owns 390,962 shares of the company’s stock worth $1,380,000 after buying an additional 67,534 shares during the period. VARCOV Co. purchased a new position in shares of indie Semiconductor in the 4th quarter worth $556,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of indie Semiconductor in the 4th quarter worth $2,121,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.