Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $86,192.40 in Stock

Key Points

• indie Semiconductor CFO Naixi Wu sold 23,170 shares at an average price of $3.72, worth $86,192.40, reducing the CFO’s direct holdings by 12.93% to 156,058 shares. Wu also sold 19,640 shares in July.
• INDI shares traded at $3.55, with a market capitalization of approximately $823 million. The company reported quarterly revenue of $64.01 million, up 24% year over year, while matching analysts’ loss estimate of $0.05 per share.
• Analysts maintain an overall “Hold” rating, with an average price target of $4.75; ratings include one Buy, two Holds and one Sell. Institutional investors own 67.73% of the stock.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 23,170 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $3.72, for a total value of $86,192.40. Following the completion of the sale, the chief financial officer directly owned 156,058 shares in the company, valued at approximately $580,535.76. This trade represents a 12.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 Performance

INDI traded down $0.16 during trading on Tuesday, reaching $3.55. 4,218,385 shares of the company were exchanged, compared to its average volume of 5,406,063. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average of $3.91 and a 200 day moving average of $3.75. The stock has a market cap of $822.93 million, a P/E ratio of -4.86 and a beta of 2.79.

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

Wall Street Analyst Weigh In

INDI has been the topic of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Friday, July 17th. Roth Capital set a $5.00 price target on shares of indie Semiconductor in a research note on Friday, August 7th. TD Cowen lifted their price target on indie Semiconductor from $4.00 to $4.50 and gave the company a "hold" rating in a report on Monday, July 13th. Wall Street Zen upgraded indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, UBS Group increased their price objective on indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $4.75.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of INDI. California State Teachers Retirement System lifted its holdings in indie Semiconductor by 486.9% in the second quarter. California State Teachers Retirement System now owns 1,071,494 shares of the company's stock worth $4,811,000 after purchasing an additional 888,933 shares during the period. Teza Capital Management LLC acquired a new position in indie Semiconductor during the 2nd quarter valued at about $436,000. Madison Asset Management LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter worth about $2,310,000. FNY Investment Advisers LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter worth about $449,000. Finally, Moody National Bank Trust Division lifted its stake in shares of indie Semiconductor by 5.3% in the 2nd quarter. Moody National Bank Trust Division now owns 997,024 shares of the company's stock worth $4,477,000 after acquiring an additional 50,364 shares during the period. 67.73% of the stock is currently owned by institutional investors.

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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