indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 23,170 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 23,170 shares of indie Semiconductor stock in a transaction on Monday, August 31st. The shares were sold at an average price of $3.72, for a total value of $86,192.40. Following the completion of the sale, the chief financial officer owned 156,058 shares in the company, valued at $580,535.76. This represents a 12.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, July 2nd, Naixi Wu sold 19,640 shares of indie Semiconductor stock. The stock was sold at an average price of $4.37, for a total transaction of $85,826.80.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $3.55 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The firm has a market cap of $822.93 million, a P/E ratio of -4.86 and a beta of 2.78. The firm’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.75. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $64.01 million during the quarter, compared to the consensus estimate of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. As a group, equities research analysts predict that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INDI. Optiver Holding B.V. increased its holdings in shares of indie Semiconductor by 7,163.7% in the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock valued at $26,000 after acquiring an additional 8,095 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor during the second quarter worth about $37,000. Principal Financial Group Inc. purchased a new position in shares of indie Semiconductor during the first quarter worth about $35,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after buying an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in indie Semiconductor in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Company Profile

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.