indie Semiconductor (NASDAQ:INDI) Insider Thomas Schiller Sells 3,138 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) insider Thomas Schiller sold 3,138 shares of indie Semiconductor stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $3.72, for a total value of $11,673.36. Following the transaction, the insider directly owned 487,167 shares of the company’s stock, valued at $1,812,261.24. The trade was a 0.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Thomas Schiller also recently made the following trade(s):

• On Thursday, July 2nd, Thomas Schiller sold 1,833 shares of indie Semiconductor stock. The shares were sold at an average price of $4.45, for a total transaction of $8,156.85.

indie Semiconductor Stock Performance

indie Semiconductor stock opened at $3.55 on Wednesday. The firm’s 50 day simple moving average is $3.91 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 $822.93 million, a PE ratio of -4.86 and a beta of 2.78. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting 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 net margin of 65.18% and a negative return on equity of 32.02%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) EPS. As a group, analysts expect that indie Semiconductor, Inc. will post -0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in INDI. Envestnet Asset Management Inc. lifted its holdings in shares of indie Semiconductor by 32.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after acquiring an additional 3,921 shares during the last quarter. Cetera Investment Advisers lifted its stake in indie Semiconductor by 20.5% during the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock worth $91,000 after purchasing an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of indie Semiconductor by 33.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after purchasing an additional 4,763 shares in the last quarter. Abel Hall LLC boosted its holdings in shares of indie Semiconductor by 42.3% in the 4th quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock worth $60,000 after purchasing an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in shares of indie Semiconductor by 1.9% during the 4th quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock valued at $948,000 after purchasing an additional 5,055 shares during the last quarter. Hedge funds and other 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.