Insider Selling: indie Semiconductor (NASDAQ:INDI) President Sells $1,556,911.16 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 300,562 shares of indie Semiconductor stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $5.18, for a total value of $1,556,911.16. Following the sale, the president directly owned 107,148 shares in the company, valued at approximately $555,026.64. The trade was a 73.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, May 27th, Ichiro Aoki sold 175,000 shares of indie Semiconductor stock. The stock was sold at an average price of $5.06, for a total value of $885,500.00.
• On Thursday, May 28th, Ichiro Aoki sold 454,900 shares of indie Semiconductor stock. The stock was sold at an average price of $5.28, for a total value of $2,401,872.00.
• On Friday, May 29th, Ichiro Aoki sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $5.05, for a total value of $505,000.00.
• On Friday, May 22nd, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $5.02, for a total value of $251,000.00.
• On Tuesday, May 26th, Ichiro Aoki sold 20,100 shares of indie Semiconductor stock. The stock was sold at an average price of $5.26, for a total value of $105,726.00.
• On Monday, May 11th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.78, for a total value of $239,000.00.
• On Thursday, April 30th, Ichiro Aoki sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.40, for a total value of $440,000.00.
• On Monday, April 27th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $4.04, for a total value of $202,000.00.
• On Thursday, April 23rd, Ichiro Aoki sold 43,500 shares of indie Semiconductor stock. The shares were sold at an average price of $3.54, for a total value of $153,990.00.
• On Friday, April 24th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.76, for a total value of $188,000.00.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $4.05 on Friday. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average of $3.91 and a two-hundred day moving average of $3.75. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The company has a market cap of $918.95 million, a P/E ratio of -5.33 and a beta of 2.73.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The company had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. indie Semiconductor’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, analysts anticipate that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

INDI has been the subject of a number of research reports. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Finally, UBS Group lifted their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, indie Semiconductor presently has an average rating of “Hold” and a consensus target price of $6.92.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in INDI. Royal Bank of Canada boosted its position in shares of indie Semiconductor by 309.7% during the first quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock worth $1,122,000 after buying an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 period. Millennium Management LLC boosted its position 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 during the period. JPMorgan Chase & Co. boosted its position 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 during the period. Finally, Rhumbline Advisers boosted its position in shares of indie Semiconductor by 24.3% during the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock worth $1,065,000 after buying an additional 58,473 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.