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

indie Semiconductor, Inc. (NASDAQ:INDI) Director Sonalee Elizabeth Parekh sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $3.80, for a total transaction of $76,000.00. Following the completion of the sale, the director owned 159,789 shares in the company, valued at approximately $607,198.20. This trade represents a 11.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

indie Semiconductor Trading Up 13.8%

NASDAQ INDI 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 50-day simple moving average of $3.92 and a 200-day simple moving average of $3.75. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05. The firm has a market capitalization of $1.09 billion, a PE ratio of -6.45 and a beta of 2.79.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. TD Cowen raised their price target on indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a report on Monday, July 13th. Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a research note on Friday, August 7th. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, 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. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.75.

Institutional Trading of indie Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the company. Primecap Management Co. CA lifted 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 raised its position in indie Semiconductor by 0.7% in the fourth quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock worth $76,621,000 after acquiring an additional 148,455 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in 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 acquiring an additional 3,067,255 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 210,463 shares during the last quarter. Finally, Elemental Capital Partners LLC boosted its position in shares of indie Semiconductor by 60.0% during the 1st 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. Institutional investors own 67.73% of the company’s stock.

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.