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

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $3.56, for a total value of $21,360.00. Following the sale, the chief financial officer owned 150,058 shares in the company, valued at $534,206.48. This represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, September 2nd, Naixi Wu sold 21,171 shares of indie Semiconductor stock. The shares were sold at an average price of $3.54, for a total value of $74,945.34.
• On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The stock was sold at an average price of $3.72, for a total value of $86,192.40.
• On Thursday, July 2nd, Naixi Wu sold 19,640 shares of indie Semiconductor stock. The shares were sold at an average price of $4.37, for a total value of $85,826.80.

indie Semiconductor Trading Down 2.8%

NASDAQ INDI traded down $0.10 during trading hours on Thursday, reaching $3.47. The company’s stock had a trading volume of 3,273,209 shares, compared to its average volume of 7,549,274. The firm has a fifty day simple moving average of $3.90 and a 200-day simple moving average of $3.74. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The stock has a market cap of $804.38 million, a P/E ratio of -4.75 and a beta of 2.78.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its position 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 acquiring an additional 3,921 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of indie Semiconductor by 20.5% in the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock worth $91,000 after purchasing an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of indie Semiconductor by 33.1% in the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after purchasing an additional 4,763 shares during the last quarter. Abel Hall LLC lifted its holdings in shares of indie Semiconductor by 42.3% in the fourth quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock valued at $60,000 after purchasing an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of indie Semiconductor by 1.9% in the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock valued at $948,000 after purchasing an additional 5,055 shares in the last quarter. 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.