Insider Selling: indie Semiconductor (NASDAQ:INDI) President Sells 3,506 Shares of Stock

Key Points

• Insider selling: indie Semiconductor President Ichiro Aoki sold 3,506 shares on April 6 at $2.99 (leaving him with 106,169 shares), and executed a series of prior sales — totaling about 308,079 shares between March 2 and April 6.
• Stock and results: INDI shares traded down 1.7% to $2.89, the company reported a (‑$0.07) EPS quarter (in line with estimates) on $58.01M revenue and remains unprofitable with negative margins and a market cap around $646M.
• Analyst and institutional view: Despite some sell ratings, the consensus on MarketBeat is a "Moderate Buy" with a $6.45 average target, while institutional ownership is high (~67.7%) and several funds materially increased positions.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 3,506 shares of indie Semiconductor stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $2.99, for a total value of $10,482.94. Following the sale, the president directly owned 106,169 shares of the company's stock, valued at $317,445.31. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ichiro Aoki also recently made the following trade(s):

• On Thursday, March 26th, Ichiro Aoki sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.28, for a total value of $328,000.00.
• On Friday, March 27th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.17, for a total value of $158,500.00.
• On Tuesday, March 24th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.83, for a total value of $141,500.00.
• On Thursday, March 19th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.57, for a total value of $128,500.00.
• On Monday, March 16th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.54, for a total value of $127,000.00.
• On Monday, March 2nd, Ichiro Aoki sold 4,573 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total value of $16,279.88.

indie Semiconductor Stock Down 1.7%

NASDAQ INDI traded down $0.05 during trading on Tuesday, reaching $2.89. 2,570,369 shares of the company's stock were exchanged, compared to its average volume of 4,549,985. The stock has a market cap of $646.38 million, a P/E ratio of -3.96 and a beta of 2.56. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. The company has a 50 day moving average price of $3.28 and a two-hundred day moving average price of $3.93. indie Semiconductor, Inc. has a 1 year low of $1.60 and a 1 year high of $6.05.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting analysts' consensus estimates of ($0.07). indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The business had revenue of $58.01 million for the quarter, compared to analysts' expectations of $57.11 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The business's revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on INDI shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Wall Street Zen cut indie Semiconductor from a "hold" rating to a "sell" rating in a research report on Saturday, December 13th. Finally, UBS Group set a $4.25 target price on indie Semiconductor in a research report on Sunday, February 22nd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, indie Semiconductor presently has an average rating of "Moderate Buy" and a consensus price target of $6.45.

Hedge Funds Weigh In On indie Semiconductor

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

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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