Key Points
- indie Semiconductor President Ichiro Aoki sold 50,000 shares on March 19 at an average price of $2.57 for $128,500 and has made multiple recent sales (Mar 16, Mar 2, Jan 5), reducing his ownership by 33.12% to 100,952 shares.
- The stock opened at $2.56 (down 1.9%); the company reported a negative EPS (‑$0.07)
- Despite insider selling, large institutions (Royal Bank of Canada, Millennium, MIRAE) have substantially increased stakes, and analysts show an average rating of "Moderate Buy" with an average price target of $6.45.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 50,000 shares of the company's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $2.57, for a total transaction of $128,500.00. Following the completion of the transaction, the president directly owned 100,952 shares in the company, valued at $259,446.64. This trade represents a 33.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Ichiro Aoki also recently made the following trade(s):
- On Monday, March 16th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were 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 shares were 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 stock was sold at an average price of $3.67, for a total value of $26,379.96.
indie Semiconductor Stock Down 1.9%
INDI opened at $2.56 on Friday. The company has a market capitalization of $562.25 million, a PE ratio of -3.51 and a beta of 2.55. 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 fifty-two week low of $1.53 and a fifty-two week high of $6.05. The business has a 50-day moving average of $3.58 and a 200-day moving average of $4.01.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting analysts' consensus estimates of ($0.07). The firm had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The firm's revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) earnings per share. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted 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 buying an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $2,040,000 after acquiring an additional 298,339 shares during the period. Millennium Management LLC increased its stake in indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock valued at $7,535,000 after acquiring an additional 3,037,435 shares during the period. ProShare Advisors LLC raised its holdings 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 acquiring an additional 3,300 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 acquiring an additional 396,433 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
Wall Street Analyst Weigh In
INDI has been the topic of a number of recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of indie Semiconductor from a "hold" rating to a "sell" rating in a research report on Saturday, December 13th. Finally, UBS Group set a $4.25 target price on indie Semiconductor in a report on Sunday, February 22nd. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, indie Semiconductor presently has an average rating of "Moderate Buy" and an average price target of $6.45.
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indie Semiconductor Company Profile
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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.
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