indie Semiconductor (NASDAQ:INDI) President Sells $2,401,872.00 in Stock

Key Points

• indie Semiconductor President Ichiro Aoki sold 454,900 shares on May 28 for about $2.40 million at an average price of $5.28. After the sale, his stake fell to 106,169 shares, an 81% drop in holdings.
• Aoki has been selling shares repeatedly in recent weeks, including multiple transactions in late April and May. The total pattern suggests a significant reduction in his position over a short period.
• INDI shares fell 6.6% to $4.99 on Friday. The company also recently reported quarterly EPS of -$0.06, matching estimates, while revenue came in slightly above forecast at $55.46 million.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 454,900 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $5.28, for a total value of $2,401,872.00. Following the completion of the sale, the president owned 106,169 shares in the company, valued at approximately $560,572.32. This represents a 81.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, May 27th, Ichiro Aoki sold 175,000 shares of indie Semiconductor stock. The shares were sold at an average price of $5.06, for a total value of $885,500.00.
• On Friday, May 29th, Ichiro Aoki sold 100,000 shares of indie Semiconductor stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $3.50, for a total value of $22,750.00.

indie Semiconductor Trading Down 6.6%

Shares of indie Semiconductor stock traded down $0.35 during trading hours on Friday, reaching $4.99. 4,919,436 shares of the company's stock were exchanged, compared to its average volume of 5,817,521. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -6.57 and a beta of 2.74. The company has a fifty day moving average of $3.72 and a 200-day moving average of $3.73. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15.

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 for the quarter, hitting analysts' consensus estimates of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The company had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.44 EPS for the current fiscal year.

Institutional Trading of indie Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of indie Semiconductor by 32.1% during the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company's stock worth $66,000 after purchasing an additional 3,921 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of indie Semiconductor by 20.5% during the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company's stock worth $91,000 after purchasing an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of indie Semiconductor by 33.1% during the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company's stock worth $68,000 after purchasing an additional 4,763 shares during the last quarter. Abel Hall LLC lifted its position in shares of indie Semiconductor by 42.3% during the fourth quarter. Abel Hall LLC now owns 16,934 shares of the company's stock worth $60,000 after purchasing an additional 5,030 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of indie Semiconductor by 1.9% during the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company's stock worth $948,000 after purchasing an additional 5,055 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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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