Sonalee Elizabeth Parekh Sells 59,932 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) Director Sonalee Elizabeth Parekh sold 59,932 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $4.07, for a total transaction of $243,923.24. Following the sale, the director owned 99,857 shares in the company, valued at approximately $406,417.99. This trade represents a 37.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sonalee Elizabeth Parekh also recently made the following trade(s):

• On Wednesday, August 12th, Sonalee Elizabeth Parekh sold 20,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.80, for a total transaction of $76,000.00.

indie Semiconductor Stock Up 3.8%

indie Semiconductor stock opened at $4.15 on Friday. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The stock’s fifty day simple moving average is $3.94 and its 200-day simple moving average is $3.75. 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 market capitalization of $962.01 million, a P/E ratio of -5.68 and a beta of 2.79.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $64.01 million for the quarter, compared to analysts’ expectations of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) earnings per share. As a group, equities analysts expect that indie Semiconductor, Inc. will post -0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. TD Cowen boosted their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a report on Monday, July 13th. Finally, Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.75.

Institutional Trading of indie Semiconductor

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in indie Semiconductor by 42.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after purchasing an additional 298,339 shares during the last quarter. Millennium Management LLC boosted its holdings in indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after purchasing an additional 3,037,435 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in indie Semiconductor by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock valued at $909,000 after purchasing an additional 13,495 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in indie Semiconductor by 24.3% in the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after purchasing an additional 58,473 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.