Insider Selling: indie Semiconductor (NASDAQ:INDI) CFO Sells $68,332.65 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CFO Naixi Wu sold 33,333 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $2.05, for a total transaction of $68,332.65. Following the sale, the chief financial officer directly owned 196,516 shares in the company, valued at approximately $402,857.80. This represents a 14.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 2nd, Naixi Wu sold 6,250 shares of indie Semiconductor stock. The stock was sold at an average price of $1.59, for a total value of $9,937.50.
• On Monday, September 21st, Naixi Wu sold 3,750 shares of indie Semiconductor stock. The shares were sold at an average price of $3.18, for a total value of $11,925.00.
• On Wednesday, September 2nd, Naixi Wu sold 21,171 shares of indie Semiconductor stock. The stock was sold at an average price of $3.54, for a total transaction of $74,945.34.
• On Tuesday, September 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total transaction of $21,360.00.
• On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The shares were sold at an average price of $3.72, for a total value of $86,192.40.

indie Semiconductor Stock Performance

indie Semiconductor stock opened at $2.18 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.86 and a current ratio of 3.37. indie Semiconductor, Inc. has a fifty-two week low of $1.34 and a fifty-two week high of $5.49. The stock has a fifty day moving average of $2.48 and a two-hundred day moving average of $3.44. The company has a market capitalization of $505.35 million, a price-to-earnings ratio of -3.03 and a beta of 3.10.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). indie Semiconductor had a negative return on equity of 34.86% and a negative net margin of 61.02%. The firm had revenue of $70.24 million for the quarter, compared to analyst estimates of $70.21 million. During the same period in the prior year, the business earned ($0.07) earnings per share. indie Semiconductor’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, analysts anticipate that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of indie Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of INDI. First Trust Advisors LP lifted its holdings in indie Semiconductor by 8.3% in the third quarter. First Trust Advisors LP now owns 409,651 shares of the company’s stock worth $1,198,000 after acquiring an additional 31,392 shares during the last quarter. Global Retirement Partners LLC lifted its stake in indie Semiconductor by 42.0% in the third quarter. Global Retirement Partners LLC now owns 17,555 shares of the company’s stock valued at $51,000 after buying an additional 5,196 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of indie Semiconductor by 68.9% during the third quarter. Russell Investments Group Ltd. now owns 148,584 shares of the company’s stock valued at $435,000 after acquiring an additional 60,618 shares during the period. Integrity Alliance LLC. acquired a new position in shares of indie Semiconductor during the third quarter valued at $153,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of indie Semiconductor in the 3rd quarter worth about $366,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, October 15th. Roth Capital set a $5.00 target price on indie Semiconductor in a research note on Friday, August 7th. TD Cowen cut their target price on indie Semiconductor from $4.50 to $2.00 and set a “hold” rating on the stock in a research report on Monday, October 19th. Finally, B. Riley Financial dropped their price target on shares of indie Semiconductor from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, November 6th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, indie Semiconductor currently has an average rating of “Hold” and an average target price of $3.94.

indie Semiconductor Company Profile

indie Semiconductor, Inc. is a fabless semiconductor company that develops automotive technologies for advanced driver-assistance systems (ADAS), automated driving, in-cabin experiences, vehicle connectivity and electrification. Its products combine analog and mixed-signal circuits with digital processing and software for use in vehicle systems. The company’s offerings support applications such as radar, lidar, computer vision, ultrasonic sensing, audio and vehicle networking. Automakers and automotive suppliers use its technologies to help enable sensing, safety and other electronic functions in vehicles.