indie Semiconductor (NASDAQ:INDI) President Ichiro Aoki Sells 50,000 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $2.83, for a total value of $141,500.00. Following the transaction, the president owned 100,952 shares in the company, valued at $285,694.16. The trade was a 33.12% decrease in their ownership of the stock. The transaction 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 Thursday, March 19th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.57, for a total transaction of $128,500.00.
• 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 transaction 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 transaction 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 transaction of $26,379.96.

indie Semiconductor Stock Performance

INDI traded up $0.23 during midday trading on Wednesday, hitting $3.16. The company had a trading volume of 5,559,725 shares, compared to its average volume of 6,810,530. The stock’s 50 day moving average price is $3.53 and its 200 day moving average price is $3.98. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $6.05. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88.

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

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC boosted its holdings in indie Semiconductor by 9.0% in the 2nd quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock worth $142,000 after buying an additional 3,300 shares during the period. Envestnet Asset Management Inc. grew its stake in indie Semiconductor by 32.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock valued at $66,000 after buying an additional 3,921 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in indie Semiconductor by 27.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock valued at $71,000 after acquiring an additional 4,207 shares during the period. Cetera Investment Advisers lifted its position in shares of indie Semiconductor by 20.5% during the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock worth $91,000 after acquiring an additional 4,365 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of indie Semiconductor by 33.1% during the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after acquiring an additional 4,763 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.