Insider Selling: 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 business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $4.07, for a total transaction of $243,923.24. Following the sale, the director directly owned 99,857 shares in the company, valued at $406,417.99. The trade was a 37.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Price Performance

indie Semiconductor stock opened at $4.15 on Monday. 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, Inc. has a one year low of $2.32 and a one year high of $6.05. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. The business has a fifty day moving average price of $3.94 and a 200-day moving average price of $3.75.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) EPS. As a group, equities research analysts forecast that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Madison Asset Management LLC purchased a new position in indie Semiconductor in the 2nd quarter worth approximately $2,310,000. Dimensional Fund Advisors LP raised its position in shares of indie Semiconductor by 19.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,776 shares of the company’s stock valued at $6,033,000 after buying an additional 308,620 shares in the last quarter. Wasatch Advisors LP raised its position in shares of indie Semiconductor by 130.0% during the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after buying an additional 2,154,279 shares in the last quarter. General American Investors Co. Inc. lifted its holdings in shares of indie Semiconductor by 14.7% during the 4th quarter. General American Investors Co. Inc. now owns 1,954,849 shares of the company’s stock worth $6,901,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Elemental Capital Partners LLC lifted its holdings 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 worth $40,715,000 after acquiring an additional 4,741,680 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

INDI has been the topic of several analyst reports. UBS Group upped their price target on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. TD Cowen upped their target price on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. Finally, Roth Capital set a $5.00 price target on shares of indie Semiconductor in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, indie Semiconductor presently has a consensus rating of “Hold” and an average 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.