indie Semiconductor (NASDAQ:INDI) President Sells $505,000.00 in Stock

Key Points

• indie Semiconductor President Ichiro Aoki sold 100,000 shares on May 29 for about $505,000 at an average price of $5.05, reducing his direct stake by 48.5% to 106,169 shares.
• Aoki has been a consistent seller of INDI stock in recent weeks, with multiple transactions totaling millions of dollars, including two large sales just days earlier on May 27 and May 28.
• The stock fell 6.6% to $4.99, while the company’s latest earnings met EPS estimates and slightly topped revenue expectations; analysts currently have a Hold consensus with an average target price of $6.92.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 100,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $5.05, for a total value of $505,000.00. Following the completion of the transaction, the president directly owned 106,169 shares in the company, valued at $536,153.45. The trade was a 48.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 shares were 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 shares were sold at an average price of $5.28, for a total transaction of $2,401,872.00.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $22,750.00.

indie Semiconductor Stock Down 6.6%

INDI stock traded down $0.35 during trading hours on Friday, reaching $4.99. 4,919,436 shares of the stock were exchanged, compared to its average volume of 5,817,521. The firm's 50-day moving average is $3.72 and its 200-day moving average is $3.73. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -6.57 and a beta of 2.74. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. indie Semiconductor, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its 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). The firm had revenue of $55.46 million during the quarter, compared to analysts' expectations of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The company's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, equities research analysts expect that indie Semiconductor, Inc. will post -0.44 earnings per share for the current year.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of INDI. Royal Bank of Canada grew its stake in indie Semiconductor by 309.7% in the first quarter. Royal Bank of Canada now owns 551,007 shares of the company's stock valued at $1,122,000 after purchasing an additional 416,519 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company's stock worth $2,040,000 after purchasing an additional 298,339 shares during the last quarter. Millennium Management LLC raised its stake in shares of indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock worth $7,535,000 after purchasing an additional 3,037,435 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of indie Semiconductor by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company's stock worth $909,000 after purchasing an additional 13,495 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of indie Semiconductor by 24.3% during the 2nd quarter. Rhumbline Advisers now owns 299,275 shares of the company's stock worth $1,065,000 after purchasing an additional 58,473 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

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

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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