indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 6,000 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $3.56, for a total value of $21,360.00. Following the completion of the transaction, the chief financial officer directly owned 150,058 shares of the company’s stock, valued at approximately $534,206.48. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, September 2nd, Naixi Wu sold 21,171 shares of indie Semiconductor stock. The shares were sold at an average price of $3.54, for a total value of $74,945.34.
• On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The stock was 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 value of $85,826.80.

indie Semiconductor Trading Down 2.8%

Shares of indie Semiconductor stock opened at $3.47 on Friday. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The firm has a market cap of $804.38 million, a PE ratio of -4.75 and a beta of 2.78. The stock has a fifty day moving average price of $3.90 and a 200-day moving average price of $3.74. 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 (NASDAQ:INDI) last released its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $64.01 million for the quarter, compared to analysts’ expectations of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) EPS. Equities research analysts anticipate that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Hedge Funds Weigh In On indie Semiconductor

A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in shares of indie Semiconductor by 32.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock valued at $66,000 after purchasing an additional 3,921 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of indie Semiconductor by 20.5% during the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after purchasing an additional 4,365 shares during the period. Daiwa Securities Group Inc. lifted its holdings in indie Semiconductor by 33.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after purchasing an additional 4,763 shares in the last quarter. Abel Hall LLC lifted its holdings in indie Semiconductor by 42.3% during the 4th quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock worth $60,000 after purchasing an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in indie Semiconductor by 1.9% in the 4th quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock worth $948,000 after purchasing an additional 5,055 shares during the period. 67.73% of the stock is owned by institutional investors.

indie Semiconductor News Roundup

Here are the key news stories impacting indie Semiconductor this week:

• Positive Sentiment: Despite the selling, analysts’ consensus price target of $4.75 remains above the recent trading range. The company’s latest quarterly revenue also rose 24% year over year to $64.01 million, exceeding estimates, while its per-share loss improved from the prior year.
• Neutral Sentiment: Institutional investors own approximately 67.7% of indie Semiconductor, indicating continued participation in its automotive semiconductor opportunity, including chips for electric vehicles, advanced driver-assistance systems and infotainment. However, most analyst ratings remain Hold or Neutral.
• Negative Sentiment: COO Michael Wittmann sold 40,625 shares for approximately $145,844 at an average price of $3.59, reducing his direct holding by 25.95%. This follows additional sales of 17,045 shares on August 31 and 42,468 shares on August 14. Insider Selling: indie Semiconductor COO Sells 40,625 Shares of Stock
• Negative Sentiment: CEO Donald McClymont sold 13,384 shares worth about $47,246, reducing his position by 2.71%. CFO Naixi Wu sold a combined 27,171 shares for roughly $96,305 across September 1–2, cutting her reported holdings by about 16%.
• Negative Sentiment: The concentration of selling by the CEO, CFO and COO may weigh on sentiment, particularly because INDI continues to post significant losses. Analysts expect a full-year loss of approximately $0.53 per share, and the stock remains well below its 52-week high of $6.05.

Wall Street Analyst Weigh In

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