indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 6,000 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $4.94, for a total transaction of $29,640.00. Following the transaction, the chief financial officer directly owned 114,787 shares in the company, valued at $567,047.78. This represents a 4.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $5.12, for a total transaction of $66,037.76.
• 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 transaction of $154,550.00.
• On Monday, April 6th, Naixi Wu sold 5,876 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total transaction of $17,569.24.
• On Friday, March 13th, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.51, for a total transaction of $15,060.00.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $4.88 on Thursday. The company’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $3.74. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.42 and a beta of 2.73. 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 1 year low of $2.32 and a 1 year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $55.46 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. As a group, research analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INDI shares. UBS Group lifted their price objective 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. 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, Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.92.

Institutional Trading of indie Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. grew its stake in shares of indie Semiconductor by 7,163.7% during the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after buying an additional 8,095 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in shares of indie Semiconductor during the second quarter worth $37,000. Principal Financial Group Inc. bought a new stake in shares of indie Semiconductor during the first quarter worth $35,000. Caitong International Asset Management Co. Ltd grew its stake in shares of indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after buying an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of indie Semiconductor during the second quarter worth $39,000. 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.