Insider Selling: indie Semiconductor (NASDAQ:INDI) President Sells 50,000 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 50,000 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $2.54, for a total transaction of $127,000.00. Following the completion of the sale, the president owned 100,952 shares of the company’s stock, valued at approximately $256,418.08. This represents a 33.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value 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 Trading Down 1.5%

NASDAQ:INDI traded down $0.04 on Wednesday, reaching $2.58. The company’s stock had a trading volume of 2,397,952 shares, compared to its average volume of 4,531,069. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $6.05. The business’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $4.04. The firm has a market cap of $566.65 million, a PE ratio of -3.53 and a beta of 2.55. 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) EPS 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 last year, the firm posted ($0.07) earnings per share. indie Semiconductor’s revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On indie Semiconductor

A number of large investors have recently bought and sold shares of INDI. Elemental Capital Partners LLC bought a new position in shares of indie Semiconductor during the 3rd quarter worth approximately $30,979,000. Tudor Investment Corp ET AL bought a new stake in shares of indie Semiconductor in the third quarter worth $22,385,000. Bamco Inc. NY boosted its holdings in indie Semiconductor by 23.5% during the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after purchasing an additional 4,813,397 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in indie Semiconductor by 29.9% during the second 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 during the last quarter. Finally, Millennium Management LLC grew its position in indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after purchasing an additional 3,037,435 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.