Ichiro Aoki Sells 50,000 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 50,000 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.57, for a total value of $128,500.00. Following the completion of the sale, the president owned 100,952 shares of the company’s stock, valued at approximately $259,446.64. The trade was a 33.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value 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 value of $16,279.88.
• On Monday, January 5th, Ichiro Aoki sold 7,188 shares of indie Semiconductor stock. The shares were sold at an average price of $3.67, for a total transaction of $26,379.96.

indie Semiconductor Trading Down 1.9%

Shares of INDI traded down $0.05 during mid-day trading on Friday, reaching $2.56. The stock had a trading volume of 6,313,687 shares, compared to its average volume of 6,960,755. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $6.05. The firm has a market cap of $562.25 million, a price-to-earnings ratio of -3.51 and a beta of 2.55. The business’s fifty day moving average is $3.58 and its 200 day moving average is $4.01. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The company 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%. indie Semiconductor’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.07) earnings per share. On average, sell-side analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently made changes to their positions in INDI. Royal Bank of Canada boosted its stake in shares of indie Semiconductor by 309.7% in the first quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after purchasing an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after buying an additional 298,339 shares in the last quarter. Millennium Management LLC lifted its holdings in indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after buying an additional 3,037,435 shares in the last quarter. ProShare Advisors LLC boosted its position in indie Semiconductor by 9.0% in the 2nd quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock valued at $142,000 after buying an additional 3,300 shares during the period. Finally, Geode Capital Management LLC boosted its position in indie Semiconductor by 9.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock valued at $16,285,000 after buying an additional 396,433 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.