Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $74,945.34 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 21,171 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $3.54, for a total value of $74,945.34. Following the completion of the transaction, the chief financial officer owned 153,183 shares in the company, valued at approximately $542,267.82. The trade was a 12.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, September 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total value of $21,360.00.
• On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The shares were sold at an average price of $3.72, for a total value of $86,192.40.
• On Thursday, July 2nd, Naixi Wu sold 19,640 shares of indie Semiconductor stock. The shares were sold at an average price of $4.37, for a total transaction of $85,826.80.

indie Semiconductor Stock Down 2.8%

Shares of NASDAQ:INDI traded down $0.10 during trading on Thursday, hitting $3.47. 3,273,209 shares of the company were exchanged, compared to its average volume of 7,549,274. The stock has a market capitalization of $804.38 million, a P/E ratio of -4.75 and a beta of 2.78. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The firm’s 50 day moving average price is $3.90 and its 200-day moving average price is $3.74.

indie Semiconductor (NASDAQ:INDI) last posted 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 firm had revenue of $64.01 million for the quarter, compared to the consensus estimate of $62.49 million. During the same period last year, the firm posted ($0.08) EPS. The company’s revenue was up 24.0% on a year-over-year basis. On average, research analysts predict that indie Semiconductor, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its stake in shares of indie Semiconductor by 486.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,071,494 shares of the company’s stock valued at $4,811,000 after purchasing an additional 888,933 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of indie Semiconductor during the second quarter worth approximately $436,000. Madison Asset Management LLC purchased a new stake in shares of indie Semiconductor during the second quarter worth approximately $2,310,000. FNY Investment Advisers LLC acquired a new stake in shares of indie Semiconductor during the second quarter worth $449,000. Finally, Moody National Bank Trust Division grew its position in indie Semiconductor by 5.3% in the 2nd quarter. Moody National Bank Trust Division now owns 997,024 shares of the company’s stock valued at $4,477,000 after buying an additional 50,364 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Friday, July 17th. Roth Capital set a $5.00 price objective on indie Semiconductor in a research note on Friday, August 7th. UBS Group increased their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, TD Cowen lifted their target price on shares of indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, indie Semiconductor has a consensus 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.