Insider Selling: indie Semiconductor (NASDAQ:INDI) President Sells 50,000 Shares of Stock

Key Points

• Ichiro Aoki, indie Semiconductor's president, sold 50,000 shares on April 27 at $4.04 and, across a recent series of transactions, has sold a total of 458,079 shares, cutting his holding by 32.02% to 106,169 shares.
• Despite the insider sales, INDI stock rose 6.5% to $4.09 on heavy volume; the company remains unprofitable with a market cap around $915M and a consensus analyst rating of "Moderate Buy" with an average target of $6.45.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 50,000 shares of indie Semiconductor stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $4.04, for a total transaction of $202,000.00. Following the completion of the transaction, the president owned 106,169 shares of the company's stock, valued at $428,922.76. This represents a 32.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, April 23rd, Ichiro Aoki sold 43,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.54, for a total transaction of $153,990.00.
• On Friday, April 24th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.76, for a total transaction of $188,000.00.
• On Tuesday, April 21st, Ichiro Aoki sold 6,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.50, for a total transaction of $22,750.00.
• On Monday, April 6th, Ichiro Aoki sold 3,506 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total transaction of $10,482.94.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $16,279.88.

indie Semiconductor Stock Up 6.5%

INDI stock traded up $0.25 during midday trading on Wednesday, reaching $4.09. 6,485,751 shares of the company were exchanged, compared to its average volume of 4,494,616. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. indie Semiconductor, Inc. has a 1-year low of $1.90 and a 1-year high of $6.05. The stock's 50-day simple moving average is $3.10 and its 200 day simple moving average is $3.84. The company has a market cap of $914.77 million, a price-to-earnings ratio of -5.60 and a beta of 2.56.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The company had revenue of $58.01 million for the quarter, compared to analysts' expectations of $57.11 million. During the same quarter last year, the company earned ($0.07) earnings per share. The firm's revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts forecast that indie Semiconductor, Inc. will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently modified their holdings of the business. Counterpoint Mutual Funds LLC purchased a new position in indie Semiconductor in the 1st quarter valued at $546,000. Elemental Capital Partners LLC grew its position in indie Semiconductor by 60.0% in the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company's stock valued at $40,715,000 after buying an additional 4,741,680 shares during the last quarter. 1492 Capital Management LLC grew its position in indie Semiconductor by 24.0% in the 1st quarter. 1492 Capital Management LLC now owns 806,723 shares of the company's stock valued at $2,598,000 after buying an additional 155,999 shares during the last quarter. Wasatch Advisors LP grew its position in indie Semiconductor by 130.0% in the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company's stock valued at $12,272,000 after buying an additional 2,154,279 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in indie Semiconductor by 164.6% in the 1st quarter. SG Americas Securities LLC now owns 93,129 shares of the company's stock valued at $300,000 after buying an additional 57,929 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on INDI shares. UBS Group set a $4.25 target price on shares of indie Semiconductor in a report on Sunday, February 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.45.

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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