indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 19,640 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 19,640 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $4.37, for a total value of $85,826.80. Following the completion of the sale, the chief financial officer directly owned 134,425 shares of the company’s stock, valued at $587,437.25. This represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, June 2nd, Naixi Wu sold 12,898 shares of indie Semiconductor stock. The shares were sold at an average price of $5.12, for a total value of $66,037.76.
• On Monday, June 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.94, for a total value of $29,640.00.
• On Thursday, April 9th, Naixi Wu sold 55,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.81, for a total value of $154,550.00.

indie Semiconductor Stock Performance

Shares of INDI traded up $0.30 on Monday, reaching $4.63. 6,352,673 shares of the stock traded hands, compared to its average volume of 5,117,980. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -6.09 and a beta of 2.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. indie Semiconductor, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05. The stock’s 50-day moving average price is $4.29 and its 200-day moving average price is $3.77.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) EPS. Equities analysts forecast that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INDI shares. UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, TD Cowen began coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price for the company. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.58.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors have recently modified their holdings of the stock. Primecap Management Co. CA boosted its holdings in shares of indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock valued at $105,105,000 after buying an additional 873,940 shares during the period. Bamco Inc. NY boosted its position in indie Semiconductor by 0.7% during the fourth quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock valued at $76,621,000 after purchasing an additional 148,455 shares during the last quarter. Granahan Investment Management LLC boosted its position in indie Semiconductor by 17.8% during the first 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 during the last quarter. Vanguard Group Inc. grew its stake in indie Semiconductor by 1.4% in the fourth 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 grew its stake in 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 in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.