indie Semiconductor (NASDAQ:INDI) President Ichiro Aoki Sells 43,500 Shares

Key Points

• indie President Ichiro Aoki sold a large block of stock: On April 23 he sold 43,500 shares (a 29.06% reduction from his prior holding) leaving him with 106,169 shares, and across March–April he sold roughly 408,079 shares in total.
• Shares rallied sharply on heavy volume: INDI traded up about 8.2% to $3.96 during midday trading with ~16.9 million shares changing hands versus an average volume of ~3.4 million.
• Company remains unprofitable but analysts are mixed: indie reported flat quarterly revenue and negative margins (EPS -$0.07), while Wall Street consensus is a "Moderate Buy" with a $6.45 average price target amid divergent analyst views.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 43,500 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $3.54, for a total value of $153,990.00. Following the completion of the transaction, the president owned 106,169 shares of the company's stock, valued at $375,838.26. The trade was a 29.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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.
• On Monday, April 6th, Ichiro Aoki sold 3,506 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total value of $10,482.94.
• On Thursday, March 26th, Ichiro Aoki sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.28, for a total value of $328,000.00.
• On Friday, March 27th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.17, for a total value of $158,500.00.
• On Tuesday, March 24th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.83, for a total value of $141,500.00.
• On Thursday, March 19th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.57, for a total value of $128,500.00.
• On Monday, March 16th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.54, for a total value of $127,000.00.
• On Monday, March 2nd, Ichiro Aoki sold 4,573 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total value of $16,279.88.

indie Semiconductor Trading Up 8.2%

Shares of INDI traded up $0.30 during midday trading on Monday, hitting $3.96. 16,879,512 shares of the stock were exchanged, compared to its average volume of 3,405,785. indie Semiconductor, Inc. has a 52-week low of $1.90 and a 52-week high of $6.05. The stock has a fifty day simple moving average of $3.09 and a 200 day simple moving average of $3.84. The firm has a market cap of $885.69 million, a P/E ratio of -5.42 and a beta of 2.56. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73.

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, hitting the consensus estimate of ($0.07). indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The business had revenue of $58.01 million during the quarter, compared to analyst estimates of $57.11 million. During the same period last year, the business posted ($0.07) earnings per share. The company's quarterly revenue was up .0% on a year-over-year basis. On average, research analysts anticipate that indie Semiconductor, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on INDI. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. UBS Group set a $4.25 target price on indie Semiconductor in a report on Sunday, February 22nd. Four 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC purchased a new position in indie Semiconductor in the first quarter valued at $546,000. Elemental Capital Partners LLC boosted its holdings in indie Semiconductor by 60.0% in the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company's stock valued at $40,715,000 after purchasing an additional 4,741,680 shares during the period. 1492 Capital Management LLC boosted its holdings in indie Semiconductor by 24.0% in the first quarter. 1492 Capital Management LLC now owns 806,723 shares of the company's stock valued at $2,598,000 after purchasing an additional 155,999 shares during the period. Wasatch Advisors LP boosted its holdings in indie Semiconductor by 130.0% in the first quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company's stock valued at $12,272,000 after purchasing an additional 2,154,279 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in indie Semiconductor by 164.6% in the first quarter. SG Americas Securities LLC now owns 93,129 shares of the company's stock valued at $300,000 after purchasing an additional 57,929 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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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