indie Semiconductor (NASDAQ:INDI) CFO Sells $154,550.00 in Stock

Key Points

• CFO Naixi Wu sold 55,000 shares on April 9 at an average price of $2.81 for $154,550, cutting her stake by 31.29% to 120,787 shares; the transaction was executed under a pre-arranged Rule 10b5-1 trading plan and follows several other recent insider sales.
• INDI shares traded up 2.8% to $2.91 with a market cap of about $650.9M and a 52-week range of $1.76–$6.05; the company reported Q4 EPS of ($0.07) in line with estimates and $58.01M in revenue but remains unprofitable, while analysts' consensus is a Moderate Buy with an average target of $6.45.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 55,000 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $2.81, for a total transaction of $154,550.00. Following the sale, the chief financial officer directly owned 120,787 shares of the company's stock, valued at approximately $339,411.47. The trade was a 31.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $3.56, for a total transaction of $61,096.72.

indie Semiconductor Stock Up 2.8%

Shares of INDI stock traded up $0.08 during mid-day trading on Friday, hitting $2.91. 2,224,623 shares of the stock traded hands, compared to its average volume of 3,983,129. The stock has a market cap of $650.85 million, a P/E ratio of -3.99 and a beta of 2.56. The stock's fifty day moving average is $3.19 and its two-hundred day moving average is $3.91. indie Semiconductor, Inc. has a 52-week low of $1.76 and a 52-week high of $6.05. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The business 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 company's quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) earnings per share. Equities analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Evergreen Capital Management LLC purchased a new position in shares of indie Semiconductor in the 2nd quarter valued at approximately $37,000. Gainplan LLC acquired a new position in indie Semiconductor in the 4th quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd increased its holdings 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 buying an additional 10,999 shares during the period. Jump Financial LLC acquired a new position in indie Semiconductor in the 2nd quarter worth approximately $39,000. Finally, HBK Sorce Advisory LLC acquired a new position in indie Semiconductor in the 3rd quarter worth approximately $41,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INDI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of indie Semiconductor from a "hold" rating to a "sell" rating in a research report on Saturday, December 13th. Finally, UBS Group set a $4.25 price objective on shares of indie Semiconductor in a research report on Sunday, February 22nd. Five equities 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.

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