Sonalee Elizabeth Parekh Sells 20,000 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) Director Sonalee Elizabeth Parekh sold 20,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $3.80, for a total transaction of $76,000.00. Following the sale, the director owned 159,789 shares of the company’s stock, valued at approximately $607,198.20. This represents a 11.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

indie Semiconductor Trading Up 13.8%

Shares of indie Semiconductor stock opened at $4.71 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.39 and a current ratio of 3.65. The company has a market capitalization of $1.09 billion, a P/E ratio of -6.45 and a beta of 2.79. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The company’s fifty day moving average is $3.92 and its two-hundred day moving average is $3.75.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The business had revenue of $64.01 million during the quarter, compared to analysts’ expectations of $62.49 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The business’s revenue was up 24.0% compared to the same quarter last year. Analysts forecast that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Primecap Management Co. CA boosted its position in shares of 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 purchasing an additional 873,940 shares in the last quarter. Bamco Inc. NY grew its stake in shares of indie Semiconductor by 0.7% during the 4th quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock worth $76,621,000 after purchasing an additional 148,455 shares during the period. Granahan Investment Management LLC increased its holdings in shares of indie Semiconductor by 17.8% in the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock valued at $65,314,000 after purchasing an additional 3,067,255 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of indie Semiconductor by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock valued at $54,693,000 after purchasing an additional 210,463 shares in the last quarter. Finally, Elemental Capital Partners LLC lifted its stake in shares of indie Semiconductor by 60.0% in the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock valued at $40,715,000 after purchasing an additional 4,741,680 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

INDI has been the subject of several analyst reports. TD Cowen upped their price objective on indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a research note on Monday, July 13th. 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. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Roth Capital set a $5.00 price target on indie Semiconductor in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.75.

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.