Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells 10,000 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 10,000 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $4.53, for a total transaction of $45,300.00. Following the completion of the sale, the chief financial officer owned 77,928 shares in the company, valued at $353,013.84. The trade was a 11.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, December 11th, Naixi Wu sold 10,386 shares of indie Semiconductor stock. The shares were sold at an average price of $4.44, for a total transaction of $46,113.84.
• On Friday, November 21st, Naixi Wu sold 7,096 shares of indie Semiconductor stock. The shares were sold at an average price of $3.30, for a total transaction of $23,416.80.
• On Tuesday, November 11th, Naixi Wu sold 5,261 shares of indie Semiconductor stock. The shares were sold at an average price of $4.18, for a total value of $21,990.98.

indie Semiconductor Stock Performance

Shares of INDI stock traded down $0.19 on Friday, hitting $4.29. The company had a trading volume of 2,217,951 shares, compared to its average volume of 4,116,750. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $6.05. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86. The firm has a market cap of $942.21 million, a P/E ratio of -5.72 and a beta of 2.59. The company has a 50-day moving average price of $4.53 and a 200-day moving average price of $4.08.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $53.68 million for the quarter, compared to analyst estimates of $53.98 million. indie Semiconductor had a negative return on equity of 28.84% and a negative net margin of 66.84%.The firm’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned ($0.09) earnings per share. As a group, equities research analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA grew its position in shares of indie Semiconductor by 1.9% in the second quarter. Primecap Management Co. CA now owns 29,160,176 shares of the company’s stock valued at $103,810,000 after purchasing an additional 536,790 shares during the period. Bamco Inc. NY lifted its stake in indie Semiconductor by 23.5% in the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after buying an additional 4,813,397 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in indie Semiconductor by 29.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock worth $63,940,000 after buying an additional 4,139,349 shares during the last quarter. Vanguard Group Inc. increased its stake in indie Semiconductor by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock worth $62,203,000 after buying an additional 1,334,145 shares in the last quarter. Finally, Elemental Capital Partners LLC purchased a new stake in indie Semiconductor during the 3rd quarter worth approximately $30,979,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INDI shares. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Wednesday, October 8th. UBS Group lifted their price objective on shares of indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, November 10th. Finally, Roth Capital reissued a “buy” rating and set a $8.00 target price on shares of indie Semiconductor in a research note on Wednesday, October 15th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, indie Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $6.60.

indie Semiconductor Company Profile

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.