indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 6,000 Shares of Stock

Key Points

• CFO Naixi Wu sold 6,000 indie Semiconductor shares at an average price of $3.56, worth $21,360, reducing her direct stake by 3.84% to 150,058 shares. She also sold more than 64,000 additional shares in other recent transactions.
• INDI shares traded at $3.47, with a market capitalization of about $804 million, while the company continues to report losses despite quarterly revenue rising 24% year over year to $64.01 million.
• Analysts maintain a consensus “Hold” rating with a $4.75 target price, and institutional investors and hedge funds own approximately 67.73% of the company.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 6,000 shares of indie Semiconductor stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $3.56, for a total value of $21,360.00. Following the sale, the chief financial officer directly owned 150,058 shares of the company's stock, valued at $534,206.48. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, September 2nd, Naixi Wu sold 21,171 shares of indie Semiconductor stock. The stock was sold at an average price of $3.54, for a total transaction of $74,945.34.
• On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The shares were sold at an average price of $3.72, for a total transaction of $86,192.40.
• On Thursday, July 2nd, Naixi Wu sold 19,640 shares of indie Semiconductor stock. The stock was sold at an average price of $4.37, for a total transaction of $85,826.80.

indie Semiconductor Stock Performance

Shares of INDI traded down $0.10 during mid-day trading on Thursday, hitting $3.47. 3,273,209 shares of the company's stock were exchanged, compared to its average volume of 7,549,274. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The stock's 50-day simple moving average is $3.90 and its 200-day simple moving average is $3.74. The firm has a market cap of $804.38 million, a price-to-earnings ratio of -4.75 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $64.01 million during the quarter, compared to analysts' expectations of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The firm's revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. On average, equities research analysts expect that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on INDI. Roth Capital set a $5.00 target price on shares of indie Semiconductor in a report on Friday, August 7th. UBS Group increased their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research report on Friday, May 8th. TD Cowen boosted their price objective on shares of indie Semiconductor from $4.00 to $4.50 and gave the company a "hold" rating in a research report on Monday, July 13th. Wall Street Zen upgraded indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a report on Friday, July 17th. One equities research 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 data from MarketBeat.com, indie Semiconductor currently has a consensus rating of "Hold" and a consensus target price of $4.75.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its holdings in shares of indie Semiconductor by 486.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,071,494 shares of the company's stock valued at $4,811,000 after purchasing an additional 888,933 shares during the last quarter. Teza Capital Management LLC acquired a new position in indie Semiconductor during the 2nd quarter worth approximately $436,000. Madison Asset Management LLC bought a new position in indie Semiconductor in the 2nd quarter valued at approximately $2,310,000. FNY Investment Advisers LLC acquired a new stake in indie Semiconductor in the second quarter valued at approximately $449,000. Finally, Moody National Bank Trust Division boosted its position in indie Semiconductor by 5.3% in the second quarter. Moody National Bank Trust Division now owns 997,024 shares of the company's stock valued at $4,477,000 after buying an additional 50,364 shares in the last quarter. 67.73% of the stock is currently 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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