Insider Selling: indie Semiconductor (NASDAQ:INDI) President Sells $328,000.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) President Ichiro Aoki sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $3.28, for a total value of $328,000.00. Following the transaction, the president directly owned 100,952 shares in the company, valued at $331,122.56. The trade was a 49.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, March 27th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.17, for a total value of $158,500.00.
• On Tuesday, March 24th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.83, for a total transaction of $141,500.00.
• On Thursday, March 19th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $2.57, for a total transaction of $128,500.00.
• 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 transaction of $127,000.00.
• On Monday, March 2nd, Ichiro Aoki sold 4,573 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total transaction 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 4.4%

NASDAQ:INDI opened at $3.05 on Tuesday. 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, Inc. has a one year low of $1.53 and a one year high of $6.05. The company has a market cap of $682.16 million, a PE ratio of -4.18 and a beta of 2.55. The firm has a 50-day moving average of $3.44 and a 200-day moving average of $3.96.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INDI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. UBS Group set a $4.25 price objective on indie Semiconductor in a research note on Sunday, February 22nd. Finally, Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Five 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.45.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds have recently modified their holdings of INDI. Elemental Capital Partners LLC bought a new position in indie Semiconductor in the 3rd quarter valued at $30,979,000. Vanguard Group Inc. increased its position in shares of indie Semiconductor by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after purchasing an additional 1,334,145 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of indie Semiconductor during the 2nd quarter worth $276,000. Caxton Associates LLP bought a new stake in shares of indie Semiconductor during the 2nd quarter worth $887,000. Finally, Bamco Inc. NY boosted its holdings in shares of indie Semiconductor by 23.5% in the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after buying an additional 4,813,397 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

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.