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

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,000 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $2.51, for a total value of $15,060.00. Following the completion of the transaction, the chief financial officer directly owned 71,188 shares in the company, valued at approximately $178,681.88. This trade represents a 7.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, March 4th, Naixi Wu sold 531 shares of indie Semiconductor stock. The stock was sold at an average price of $2.53, for a total value of $1,343.43.
• On Monday, March 2nd, Naixi Wu sold 17,162 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total value of $61,096.72.
• On Monday, January 5th, Naixi Wu sold 12,448 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total transaction of $45,684.16.
• On Monday, December 22nd, Naixi Wu sold 6,354 shares of indie Semiconductor stock. The stock was sold at an average price of $3.86, for a total transaction of $24,526.44.

indie Semiconductor Trading Up 1.6%

NASDAQ INDI opened at $2.62 on Wednesday. indie Semiconductor, Inc. has a one year low of $1.53 and a one year high of $6.05. 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 market capitalization of $575.43 million, a price-to-earnings ratio of -3.59 and a beta of 2.55. The company’s 50-day simple moving average is $3.66 and its two-hundred day simple moving average is $4.04.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. Equities analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

INDI has been the subject of a number of analyst reports. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. UBS Group set a $4.25 price target on shares of indie Semiconductor in a report on Sunday, February 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Moderate Buy” and an average target price of $6.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. HBK Sorce Advisory LLC purchased a new stake in indie Semiconductor in the third quarter valued at about $41,000. Evergreen Capital Management LLC purchased a new position in shares of indie Semiconductor in the 2nd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd boosted its stake in indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after purchasing an additional 10,999 shares in the last quarter. Jump Financial LLC purchased a new stake in indie Semiconductor during the 2nd quarter worth approximately $39,000. Finally, Gainplan LLC acquired a new position in indie Semiconductor during the 4th quarter valued at approximately $39,000. 67.73% of the stock is currently owned by hedge funds and other 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.