indie Semiconductor (NASDAQ:INDI) Director Sells $243,923.24 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) Director Sonalee Elizabeth Parekh sold 59,932 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $4.07, for a total value of $243,923.24. Following the transaction, the director owned 99,857 shares in the company, valued at approximately $406,417.99. This trade represents a 37.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sonalee Elizabeth Parekh also recently made the following trade(s):

• On Wednesday, August 12th, Sonalee Elizabeth Parekh sold 20,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.80, for a total value of $76,000.00.

indie Semiconductor Stock Performance

Shares of NASDAQ INDI traded up $0.15 during trading hours on Friday, hitting $4.15. 8,396,094 shares of the stock were exchanged, compared to its average volume of 8,124,481. 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 one year low of $2.32 and a one year high of $6.05. The company’s 50 day moving average is $3.94 and its 200 day moving average is $3.75. The firm has a market capitalization of $962.01 million, a P/E ratio of -5.68 and a beta of 2.79.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The company 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 business posted ($0.08) earnings per share. The firm’s revenue was up 24.0% compared to the same quarter last year. On average, research analysts expect that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Institutional Investors Weigh In On indie Semiconductor

Large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in indie Semiconductor by 309.7% during the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock worth $1,122,000 after buying an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of indie Semiconductor by 42.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock valued at $2,040,000 after purchasing an additional 298,339 shares during the last quarter. Millennium Management LLC lifted its position in indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after buying an additional 3,037,435 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of indie Semiconductor by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock worth $909,000 after purchasing an additional 13,495 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in indie Semiconductor by 24.3% during the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock worth $1,065,000 after buying an additional 58,473 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on INDI shares. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. 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 research note on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Friday, July 17th. UBS Group raised their price target on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.