indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 6,354 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,354 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $3.86, for a total value of $24,526.44. Following the completion of the transaction, the chief financial officer owned 67,542 shares of the company’s stock, valued at $260,712.12. The trade was a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, December 11th, Naixi Wu sold 10,386 shares of indie Semiconductor stock. The shares were sold at an average price of $4.44, for a total value of $46,113.84.
• On Wednesday, December 10th, Naixi Wu sold 10,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.53, for a total value of $45,300.00.
• On Friday, November 21st, Naixi Wu sold 7,096 shares of indie Semiconductor stock. The stock was sold at an average price of $3.30, for a total transaction of $23,416.80.
• On Tuesday, November 11th, Naixi Wu sold 5,261 shares of indie Semiconductor stock. The stock was sold at an average price of $4.18, for a total transaction of $21,990.98.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $3.70 on Wednesday. The company’s fifty day moving average is $4.42 and its 200 day moving average is $4.17. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $6.05. The stock has a market cap of $812.63 million, a PE ratio of -4.93 and a beta of 2.59.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $53.68 million during the quarter, compared to the consensus estimate of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted ($0.09) EPS. Research analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in indie Semiconductor by 356.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock valued at $34,000 after buying an additional 7,536 shares in the last quarter. Ethic Inc. purchased a new stake in shares of indie Semiconductor in the second quarter worth $36,000. Evergreen Capital Management LLC bought a new position in shares of indie Semiconductor during the second quarter valued at $37,000. Hsbc Holdings PLC raised its position in shares of indie Semiconductor by 36.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,486 shares of the company’s stock worth $39,000 after purchasing an additional 5,213 shares during the last quarter. Finally, Jump Financial LLC bought a new position in indie Semiconductor in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Roth Capital restated a “buy” rating and issued a $8.00 price objective on shares of indie Semiconductor in a research report on Wednesday, October 15th. UBS Group boosted their price target on indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, November 10th. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, indie Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.60.

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.