indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 12,448 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 12,448 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $3.67, for a total transaction of $45,684.16. Following the completion of the transaction, the chief financial officer owned 76,969 shares of the company’s stock, valued at $282,476.23. This represents a 13.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 22nd, Naixi Wu sold 6,354 shares of indie Semiconductor stock. The stock was sold at an average price of $3.86, for a total transaction of $24,526.44.
• 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 Wednesday, December 10th, Naixi Wu sold 10,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.53, for a total value of $45,300.00.
• On Friday, November 21st, Naixi Wu sold 7,096 shares of indie Semiconductor stock. The stock was sold at an average price of $3.30, for a total value 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 Price Performance

Shares of INDI traded up $0.34 during midday trading on Tuesday, reaching $4.00. The stock had a trading volume of 3,633,305 shares, compared to its average volume of 3,035,014. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $6.05. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.75 and a quick ratio of 3.18. The firm’s 50 day moving average price is $4.07 and its 200-day moving average price is $4.19. The company has a market capitalization of $878.52 million, a P/E ratio of -5.33 and a beta of 2.54.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB acquired a new stake in indie Semiconductor during the second quarter valued at $276,000. Fred Alger Management LLC purchased a new stake in shares of indie Semiconductor during the 1st quarter worth about $2,527,000. Caxton Associates LLP acquired a new stake in indie Semiconductor in the second quarter valued at approximately $887,000. Bamco Inc. NY increased its stake in shares of indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after purchasing an additional 4,813,397 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of indie Semiconductor by 9.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock valued at $16,285,000 after purchasing an additional 396,433 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Wednesday, October 8th. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Roth Capital reiterated a “buy” rating and set a $8.00 price objective on shares of indie Semiconductor in a research report on Wednesday, October 15th. Finally, UBS Group lifted their target price on indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, indie Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $6.60.

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.