indie Semiconductor (NASDAQ:INDI) President Ichiro Aoki Sells 175,000 Shares

Key Points

• Indie Semiconductor President Ichiro Aoki sold a large block of shares, including 175,000 shares on May 27 at an average price of $5.06 for $885,500. After the sale, he directly owned 106,169 shares, marking a 62.24% drop in his holdings.
• Aoki continued selling shares in multiple recent transactions, with several additional sales on May 28, May 29, and earlier in May and April. In total, the article highlights a consistent pattern of insider selling over the past several weeks.
• Indie Semiconductor recently reported mixed fundamentals, posting Q1 earnings of -$0.06 per share in line with estimates and revenue of $55.46 million, slightly above forecasts. The stock closed around $4.99, while analysts currently rate it a consensus Hold with an average target price of $6.92.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 175,000 shares of indie Semiconductor stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $5.06, for a total value of $885,500.00. Following the transaction, the president directly owned 106,169 shares of the company's stock, valued at approximately $537,215.14. This represents a 62.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ichiro Aoki also recently made the following trade(s):

• On Thursday, May 28th, Ichiro Aoki sold 454,900 shares of indie Semiconductor stock. The stock was sold at an average price of $5.28, for a total value of $2,401,872.00.
• On Friday, May 29th, Ichiro Aoki sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $5.05, for a total value of $505,000.00.
• On Friday, May 22nd, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $5.02, for a total value of $251,000.00.
• On Tuesday, May 26th, Ichiro Aoki sold 20,100 shares of indie Semiconductor stock. The stock was sold at an average price of $5.26, for a total value of $105,726.00.
• On Monday, May 11th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.78, for a total value of $239,000.00.
• On Thursday, April 30th, Ichiro Aoki sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.40, for a total value of $440,000.00.
• On Monday, April 27th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.04, for a total value of $202,000.00.
• On Thursday, April 23rd, Ichiro Aoki sold 43,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.54, for a total value of $153,990.00.
• On Friday, April 24th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.76, for a total value of $188,000.00.
• On Tuesday, April 21st, Ichiro Aoki sold 6,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.50, for a total value of $22,750.00.

indie Semiconductor Price Performance

INDI stock traded down $0.35 during midday trading on Friday, hitting $4.99. 4,919,436 shares of the stock were exchanged, compared to its average volume of 5,817,521. The stock's 50-day moving average price is $3.72 and its 200-day moving average price is $3.73. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -6.57 and a beta of 2.74. indie Semiconductor, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $6.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.indie Semiconductor's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. Research analysts predict that indie Semiconductor, Inc. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

INDI has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. UBS Group raised their price target on indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Finally, Wall Street Zen raised indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, indie Semiconductor has an average rating of "Hold" and an average target price of $6.92.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. purchased a new stake in shares of indie Semiconductor in the first quarter valued at $35,000. Evergreen Capital Management LLC purchased a new stake in shares of indie Semiconductor in the second quarter valued at $37,000. Gainplan LLC purchased a new stake in shares of indie Semiconductor in the fourth quarter valued at $39,000. Caitong International Asset Management Co. Ltd grew its position in shares of indie Semiconductor by 45,829.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company's stock valued at $39,000 after purchasing an additional 10,999 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of indie Semiconductor in the second quarter valued at $39,000. Hedge funds and other institutional investors 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.

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