indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 33,333 Shares of Stock

Key Points

• CFO Naixi Wu sold 33,333 shares at an average price of $2.05, totaling about $68,333. Wu retained 196,516 shares after the sale, a 14.5% reduction in their position.
• Quarterly revenue rose 30.8% year over year to $70.24 million, slightly above estimates, while adjusted loss per share of $0.05 was wider than the $0.04 loss analysts expected.
• Analysts hold a consensus “Hold” rating, with a consensus price target of $3.94; recent targets were lowered by B. Riley and TD Cowen.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 33,333 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $2.05, for a total value of $68,332.65. Following the transaction, the chief financial officer directly owned 196,516 shares in the company, valued at approximately $402,857.80. This represents a 14.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Naixi Wu also recently made the following trade(s):

• On Monday, November 2nd, Naixi Wu sold 6,250 shares of indie Semiconductor stock. The stock was sold at an average price of $1.59, for a total value of $9,937.50.
• On Monday, September 21st, Naixi Wu sold 3,750 shares of indie Semiconductor stock. The shares were sold at an average price of $3.18, for a total value of $11,925.00.
• On Wednesday, September 2nd, Naixi Wu sold 21,171 shares of indie Semiconductor stock. The shares were sold at an average price of $3.54, for a total value of $74,945.34.
• On Tuesday, September 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total value of $21,360.00.
• On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The stock was sold at an average price of $3.72, for a total transaction of $86,192.40.

indie Semiconductor Stock Performance

INDI stock traded up $0.08 during trading on Tuesday, hitting $2.28. 14,346,579 shares of the company's stock traded hands, compared to its average volume of 7,390,235. The company has a quick ratio of 2.86, a current ratio of 3.37 and a debt-to-equity ratio of 1.28. indie Semiconductor, Inc. has a 52 week low of $1.34 and a 52 week high of $5.49. The stock has a fifty day moving average price of $2.54 and a two-hundred day moving average price of $3.46. The stock has a market capitalization of $528.53 million, a price-to-earnings ratio of -3.17 and a beta of 3.10.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). indie Semiconductor had a negative return on equity of 34.86% and a negative net margin of 61.02%. The business had revenue of $70.24 million during the quarter, compared to the consensus estimate of $70.21 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The company's quarterly revenue was up 30.8% compared to the same quarter last year. As a group, equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INDI has been the topic of a number of research reports. B. Riley Financial dropped their price target on indie Semiconductor from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday. TD Cowen reduced their price objective on indie Semiconductor from $4.50 to $2.00 and set a "hold" rating for the company in a research report on Monday, October 19th. Roth Capital set a $5.00 price objective on indie Semiconductor in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research report on Thursday, October 15th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $3.94.

Institutional Trading of indie Semiconductor

Hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC grew its position in indie Semiconductor by 42.0% in the 3rd quarter. Global Retirement Partners LLC now owns 17,555 shares of the company's stock worth $51,000 after purchasing an additional 5,196 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of indie Semiconductor by 68.9% in the third quarter. Russell Investments Group Ltd. now owns 148,584 shares of the company's stock valued at $435,000 after purchasing an additional 60,618 shares during the period. Integrity Alliance LLC. acquired a new stake in shares of indie Semiconductor in the third quarter valued at approximately $153,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of indie Semiconductor during the third quarter valued at approximately $366,000. Finally, Inspire Investing LLC raised its holdings in shares of indie Semiconductor by 38.3% during the third quarter. Inspire Investing LLC now owns 215,492 shares of the company's stock valued at $630,000 after buying an additional 59,711 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

indie Semiconductor Company Profile

indie Semiconductor, Inc. is a fabless semiconductor company that develops automotive technologies for advanced driver-assistance systems (ADAS), automated driving, in-cabin experiences, vehicle connectivity and electrification. Its products combine analog and mixed-signal circuits with digital processing and software for use in vehicle systems. The company's offerings support applications such as radar, lidar, computer vision, ultrasonic sensing, audio and vehicle networking. Automakers and automotive suppliers use its technologies to help enable sensing, safety and other electronic functions in vehicles.

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