Naixi Wu Sells 12,898 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 12,898 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $5.12, for a total value of $66,037.76. Following the transaction, the chief financial officer owned 114,787 shares of the company’s stock, valued at approximately $587,709.44. This represents a 10.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Naixi Wu also recently made the following trade(s):

• On Monday, June 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $4.94, for a total value of $29,640.00.
• On Thursday, April 9th, Naixi Wu sold 55,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.81, for a total value of $154,550.00.
• On Monday, April 6th, Naixi Wu sold 5,876 shares of indie Semiconductor stock. The shares were sold at an average price of $2.99, for a total value 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 value of $15,060.00.

indie Semiconductor Stock Down 1.6%

indie Semiconductor stock opened at $4.80 on Friday. The stock has a market capitalization of $1.09 billion, a PE ratio of -6.32 and a beta of 2.73. indie Semiconductor, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05. The business has a 50 day simple moving average of $3.90 and a 200-day simple moving average of $3.75. 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 (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $55.46 million during the quarter, compared to analysts’ expectations of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. On average, analysts anticipate that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Trading of indie Semiconductor

Large investors have recently made changes to their positions in the company. Optiver Holding B.V. boosted its position in shares of indie Semiconductor by 7,163.7% in the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock valued at $26,000 after purchasing an additional 8,095 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor in the 2nd quarter valued at about $37,000. Principal Financial Group Inc. acquired a new stake in shares of indie Semiconductor in the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd boosted its position in shares of indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after purchasing an additional 10,999 shares during the period. Finally, Jump Financial LLC acquired a new stake in indie Semiconductor during the 2nd quarter worth approximately $39,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INDI. UBS Group lifted their price target on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.92.

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.