Insider Selling: indie Semiconductor (NASDAQ:INDI) President Sells 50,000 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 50,000 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.57, for a total value of $128,500.00. Following the completion of the sale, the president owned 100,952 shares in the company, valued at approximately $259,446.64. The trade was a 33.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Ichiro Aoki also recently made the following trade(s):

• On Monday, March 16th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.54, for a total value of $127,000.00.
• On Monday, March 2nd, Ichiro Aoki sold 4,573 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total value of $16,279.88.
• On Monday, January 5th, Ichiro Aoki sold 7,188 shares of indie Semiconductor stock. The shares were sold at an average price of $3.67, for a total value of $26,379.96.

indie Semiconductor Stock Down 1.9%

indie Semiconductor stock traded down $0.05 during trading on Friday, reaching $2.56. The stock had a trading volume of 6,313,687 shares, compared to its average volume of 6,960,755. The stock has a market cap of $562.25 million, a PE ratio of -3.51 and a beta of 2.55. The business has a 50 day moving average price of $3.58 and a 200 day moving average price of $4.01. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $6.05. The company has a quick ratio of 3.10, a current ratio of 3.73 and a debt-to-equity ratio of 0.88.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INDI. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, UBS Group set a $4.25 target price on shares of indie Semiconductor in a report on Sunday, February 22nd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.45.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Primecap Management Co. CA grew its stake in indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock worth $105,105,000 after purchasing an additional 873,940 shares in the last quarter. Bamco Inc. NY grew its position in shares of indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after buying an additional 4,813,397 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in indie Semiconductor by 29.9% during the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock worth $63,940,000 after acquiring an additional 4,139,349 shares during the period. Vanguard Group Inc. raised its stake in indie Semiconductor by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock worth $54,693,000 after acquiring an additional 210,463 shares during the period. Finally, Elemental Capital Partners LLC raised its position in shares of indie Semiconductor by 3.8% during the 4th quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock worth $27,897,000 after purchasing an additional 291,111 shares during the period. Institutional investors own 67.73% of the company’s stock.

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.