indie Semiconductor (NASDAQ:INDI) President Sells $328,000.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 100,000 shares of the stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $3.28, for a total transaction of $328,000.00. Following the completion of the sale, the president directly owned 100,952 shares of the company’s stock, valued at $331,122.56. This trade represents a 49.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, March 27th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.17, for a total transaction of $158,500.00.
• On Tuesday, March 24th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.83, for a total transaction of $141,500.00.
• On Thursday, March 19th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were 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 stock was 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 shares were sold at an average price of $3.67, for a total value of $26,379.96.

indie Semiconductor Stock Down 1.5%

INDI stock opened at $3.19 on Friday. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88. The firm has a 50 day simple moving average of $3.46 and a 200-day simple moving average of $3.97. The company has a market capitalization of $713.48 million, a P/E ratio of -4.37 and a beta of 2.55. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $6.05.

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

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its position in indie Semiconductor by 309.7% in the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after purchasing an additional 416,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 purchasing an additional 298,339 shares during the period. Millennium Management LLC raised 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 valued at $7,535,000 after buying an additional 3,037,435 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of indie Semiconductor by 9.5% during the second quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock worth $16,285,000 after buying an additional 396,433 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in indie Semiconductor by 20.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 43,470 shares of the company’s stock worth $155,000 after buying an additional 7,350 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

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

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.