indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 55,000 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 55,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $2.81, for a total transaction of $154,550.00. Following the completion of the sale, the chief financial officer directly owned 120,787 shares of the company’s stock, valued at $339,411.47. This represents a 31.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Naixi Wu sold 5,876 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total transaction of $17,569.24.
• On Friday, March 13th, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.51, for a total transaction of $15,060.00.
• On Wednesday, March 4th, Naixi Wu sold 531 shares of indie Semiconductor stock. The stock was sold at an average price of $2.53, for a total transaction of $1,343.43.
• On Monday, March 2nd, Naixi Wu sold 17,162 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total transaction of $61,096.72.

indie Semiconductor Trading Up 2.8%

indie Semiconductor stock opened at $2.91 on Friday. The firm has a 50 day moving average of $3.19 and a 200 day moving average of $3.91. The firm has a market capitalization of $650.85 million, a price-to-earnings ratio of -3.99 and a beta of 2.56. indie Semiconductor, Inc. has a 12-month low of $1.76 and a 12-month high of $6.05. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $58.01 million during the quarter, compared to analyst estimates of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. As a group, research analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd boosted its stake in 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 worth $39,000 after purchasing an additional 10,999 shares during the period. Virtu Financial LLC bought a new position in indie Semiconductor in the 4th quarter worth approximately $178,000. Invesco Ltd. boosted its stake in indie Semiconductor by 20.9% in the 4th quarter. Invesco Ltd. now owns 390,962 shares of the company’s stock worth $1,380,000 after purchasing an additional 67,534 shares during the period. VARCOV Co. bought a new position in indie Semiconductor in the 4th quarter worth approximately $556,000. Finally, Voloridge Investment Management LLC bought a new position in indie Semiconductor in the 4th quarter worth approximately $2,121,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INDI. Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. Finally, UBS Group set a $4.25 price target on indie Semiconductor in a research note on Sunday, February 22nd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.45.

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.