indie Semiconductor (NASDAQ:INDI) CFO Sells $11,925.00 in Stock

Key Points

• Insider selling: CFO Naixi Wu sold 3,750 indie Semiconductor shares at an average price of $3.18, reducing their position by 2.33% to 156,933 shares. Wu has also reported several other stock sales since July.
• Stock performance and outlook: Shares fell 0.3% to $3.20, below their 50-day and 200-day moving averages. Analysts maintain an average “Hold” rating with a $4.75 price target, although ratings range from Buy to Sell.
• Operating results: Quarterly revenue rose 24% year over year to $64.01 million, exceeding estimates, while the company reported a loss of $0.05 per share. Despite revenue growth, indie remains unprofitable, with a negative net margin of 65.18%.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 3,750 shares of the business's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $3.18, for a total transaction of $11,925.00. Following the transaction, the chief financial officer owned 156,933 shares in the company, valued at $499,046.94. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $3.54, for a total transaction of $74,945.34.
• On Tuesday, September 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total transaction of $21,360.00.
• 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 shares were sold at an average price of $4.37, for a total value of $85,826.80.

indie Semiconductor Stock Down 0.3%

Shares of NASDAQ:INDI traded down $0.01 during trading on Tuesday, hitting $3.20. 4,507,727 shares of the company were exchanged, compared to its average volume of 4,688,135. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. The firm's 50 day moving average price is $3.64 and its 200-day moving average price is $3.72. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The stock has a market capitalization of $741.79 million, a P/E ratio of -4.38 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced 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). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The company had revenue of $64.01 million for the quarter, compared to the consensus estimate of $62.49 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. The company's revenue for the quarter was up 24.0% compared to the same quarter last year. On average, research analysts predict that indie Semiconductor, Inc. will post -0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INDI has been the subject of several recent analyst reports. TD Cowen upped their price target on indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a research note on Monday, July 13th. Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, indie Semiconductor currently has an average rating of "Hold" and an average target price of $4.75.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. grew its holdings in shares of indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company's stock valued at $26,000 after acquiring an additional 8,095 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in indie Semiconductor in the second quarter valued at $49,000. Principal Financial Group Inc. bought a new stake in indie Semiconductor during the first quarter worth about $35,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of indie Semiconductor by 45,829.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company's stock worth $39,000 after buying an additional 10,999 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of indie Semiconductor by 37.7% during the first quarter. PNC Financial Services Group Inc. now owns 28,199 shares of the company's stock valued at $91,000 after purchasing an additional 7,724 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc develops semiconductor and software solutions for the automotive industry. Its technology is designed to support advanced driver-assistance systems (ADAS), autonomous-driving applications, vehicle connectivity, and in-cabin user experiences.

The company's product portfolio includes radar and lidar components, computer-vision processors, automotive imaging solutions, wireless connectivity products, audio and voice-processing technologies, and power-management devices.

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