Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) Director Sells $40,496.22 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) Director Sonalee Elizabeth Parekh sold 11,841 shares of indie Semiconductor stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $3.42, for a total value of $40,496.22. Following the transaction, the director now directly owns 119,857 shares in the company, valued at approximately $409,910.94. The trade was a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

indie Semiconductor Stock Down 1.2%

Shares of INDI opened at $3.17 on Friday. The business’s 50 day moving average is $2.51 and its 200 day moving average is $3.14. The company has a market capitalization of $673.66 million, a PE ratio of -4.23 and a beta of 2.12. indie Semiconductor, Inc. has a 12-month low of $1.53 and a 12-month high of $7.45. The company has a current ratio of 5.30, a quick ratio of 4.64 and a debt-to-equity ratio of 0.85.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $54.08 million for the quarter, compared to the consensus estimate of $54.94 million. indie Semiconductor had a negative return on equity of 27.25% and a negative net margin of 62.64%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) EPS. Research analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Trading of indie Semiconductor

A number of large investors have recently added to or reduced their stakes in INDI. Rhumbline Advisers increased its stake in indie Semiconductor by 1.8% in the 4th quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock worth $968,000 after acquiring an additional 4,156 shares during the last quarter. P.A.W. Capital Corp increased its stake in indie Semiconductor by 10.0% in the 4th quarter. P.A.W. Capital Corp now owns 1,100,000 shares of the company’s stock worth $4,455,000 after acquiring an additional 100,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in indie Semiconductor by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,431,093 shares of the company’s stock worth $5,796,000 after acquiring an additional 112,793 shares during the last quarter. M&T Bank Corp increased its stake in indie Semiconductor by 41.5% in the 4th quarter. M&T Bank Corp now owns 28,348 shares of the company’s stock worth $115,000 after acquiring an additional 8,308 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in indie Semiconductor by 13.0% in the 4th quarter. Arizona State Retirement System now owns 51,961 shares of the company’s stock worth $210,000 after acquiring an additional 5,960 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INDI. KeyCorp lowered their price objective on indie Semiconductor from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Craig Hallum lowered their price objective on indie Semiconductor from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. B. Riley reaffirmed a “buy” rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Finally, Benchmark reissued a “buy” rating and set a $6.00 target price on shares of indie Semiconductor in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.75.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.