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

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $4.94, for a total value of $29,640.00. Following the sale, the chief financial officer owned 114,787 shares of the company’s stock, valued at approximately $567,047.78. This trade represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, June 2nd, Naixi Wu sold 12,898 shares of indie Semiconductor stock. The stock was sold at an average price of $5.12, for a total value of $66,037.76.
• On Thursday, April 9th, Naixi Wu sold 55,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.81, for a total value of $154,550.00.
• On Monday, April 6th, Naixi Wu sold 5,876 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total value of $17,569.24.
• On Friday, March 13th, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.51, for a total value of $15,060.00.

indie Semiconductor Trading Down 1.6%

Shares of indie Semiconductor stock opened at $4.80 on Friday. The stock has a market cap of $1.09 billion, a P/E ratio of -6.32 and a beta of 2.73. The stock’s 50 day simple moving average is $3.90 and its 200-day simple moving average is $3.75. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $55.46 million for the quarter, compared to analysts’ expectations of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. Analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA lifted its holdings in indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock valued at $105,105,000 after acquiring an additional 873,940 shares during the last quarter. Bamco Inc. NY lifted its holdings in indie Semiconductor by 0.7% in the fourth quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock valued at $76,621,000 after acquiring an additional 148,455 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in indie Semiconductor by 17.8% in the first quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock valued at $65,314,000 after acquiring an additional 3,067,255 shares during the last quarter. Vanguard Group Inc. lifted its holdings in indie Semiconductor by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock valued at $54,693,000 after acquiring an additional 210,463 shares during the last quarter. Finally, Elemental Capital Partners LLC lifted its holdings in indie Semiconductor by 60.0% in the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock valued at $40,715,000 after acquiring an additional 4,741,680 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, UBS Group boosted their target price on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.92.

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.