indie Semiconductor (NASDAQ:INDI) President Ichiro Aoki Sells 300,562 Shares

Key Points

• indie Semiconductor President Ichiro Aoki sold 300,562 shares on June 2 at an average price of $5.18, totaling about $1.56 million. After the sale, he retained 107,148 shares, cutting his position by 73.72%.
• The insider selling has been ongoing: Aoki also sold multiple blocks of stock in late April and May, including a 454,900-share sale on May 28 and a 175,000-share sale on May 27.
• INDI shares fell 4.3% to $4.88 in Wednesday trading. The company most recently met earnings expectations, while analysts currently rate the stock a “Hold” with a consensus price target of $6.92.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 300,562 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $5.18, for a total transaction of $1,556,911.16. Following the completion of the transaction, the president owned 107,148 shares of the company's stock, valued at $555,026.64. This represents a 73.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, May 27th, Ichiro Aoki sold 175,000 shares of indie Semiconductor stock. The stock was sold at an average price of $5.06, for a total transaction of $885,500.00.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $188,000.00.

indie Semiconductor Stock Down 4.3%

indie Semiconductor stock traded down $0.22 during trading on Wednesday, reaching $4.88. The stock had a trading volume of 4,635,747 shares, compared to its average volume of 4,850,840. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05. The business has a 50 day moving average price of $3.76 and a 200 day moving average price of $3.73. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.11 billion, a PE ratio of -6.42 and a beta of 2.73.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The firm's quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On indie Semiconductor

Institutional investors have recently modified their holdings of the business. 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. Principal Financial Group Inc. acquired a new position in shares of indie Semiconductor in the 1st quarter valued at $35,000. Evergreen Capital Management LLC acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $37,000. Gainplan LLC acquired a new position in shares of indie Semiconductor in the 4th quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 valued at $39,000 after acquiring an additional 10,999 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

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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