Key Points
- Indie Semiconductor President Ichiro Aoki sold 100,000 shares on May 29 at an average price of $5.05, totaling $505,000. After the sale, he still held 106,169 shares, but the transaction cut his stake by 48.5%.
- Aoki has been selling heavily throughout May, including multiple large transactions in the days leading up to this sale, with one 454,900-share sale on May 28 and a 175,000-share sale on May 27.
- Shares of indie Semiconductor fell 6.6% as the insider selling came alongside mixed fundamentals: recent earnings met expectations, but the company remains unprofitable and analysts currently rate the stock a consensus Hold.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) President Ichiro Aoki sold 100,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $5.05, for a total transaction of $505,000.00. Following the sale, the president owned 106,169 shares of the company's stock, valued at $536,153.45. This trade represents a 48.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Ichiro Aoki also recently made the following trade(s):
- On Wednesday, May 27th, Ichiro Aoki sold 175,000 shares of indie Semiconductor stock. The stock was sold at an average price of $5.06, for a total transaction of $885,500.00.
- On Thursday, May 28th, Ichiro Aoki sold 454,900 shares of indie Semiconductor stock. The stock was sold at an average price of $5.28, for a total transaction of $2,401,872.00.
- On Friday, May 22nd, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $5.02, for a total transaction of $251,000.00.
- On Tuesday, May 26th, Ichiro Aoki sold 20,100 shares of indie Semiconductor stock. The stock was sold at an average price of $5.26, for a total transaction of $105,726.00.
- On Monday, May 11th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.78, for a total transaction of $239,000.00.
- On Thursday, April 30th, Ichiro Aoki sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.40, for a total transaction of $440,000.00.
- On Monday, April 27th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.04, for a total transaction of $202,000.00.
- On Thursday, April 23rd, Ichiro Aoki sold 43,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.54, for a total transaction of $153,990.00.
- On Friday, April 24th, Ichiro Aoki sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.76, for a total transaction of $188,000.00.
- On Tuesday, April 21st, Ichiro Aoki sold 6,500 shares of indie Semiconductor stock. The shares were sold at an average price of $3.50, for a total transaction of $22,750.00.
indie Semiconductor Trading Down 6.6%
Shares of indie Semiconductor stock opened at $4.99 on Friday. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.13 billion, a PE ratio of -6.57 and a beta of 2.74. The company has a 50-day moving average of $3.72 and a two-hundred day moving average of $3.73.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company had revenue of $55.46 million during the quarter, compared to analysts' expectations of $55.09 million. During the same period last year, the company posted ($0.08) earnings per share. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that indie Semiconductor, Inc. will post -0.44 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently commented on INDI shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. UBS Group increased their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a "neutral" rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, indie Semiconductor presently has a consensus rating of "Hold" and a consensus price target of $6.92.
Read Our Latest Research Report on indie Semiconductor
indie Semiconductor News Roundup
Here are the key news stories impacting indie Semiconductor this week:
- Neutral Sentiment: indie Semiconductor announced new employee inducement grants, a routine equity compensation move that may help attract and retain talent. Article Title
- Neutral Sentiment: The company’s latest earnings were roughly in line with expectations, with modest revenue growth, but profitability remains negative and analysts expect another loss for the year.
- Negative Sentiment: President Ichiro Aoki disclosed several large stock sales in quick succession, including a 454,900-share sale, which has likely pressured shares as investors view the activity as a bearish insider signal. Article Title
Institutional Trading of indie Semiconductor
Hedge funds and other institutional investors have recently bought and sold shares of the company. Evergreen Capital Management LLC purchased a new stake in indie Semiconductor in the 2nd quarter worth approximately $37,000. Principal Financial Group Inc. purchased a new stake in indie Semiconductor in the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd grew its stake in indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company's stock worth $39,000 after acquiring an additional 10,999 shares during the period. Jump Financial LLC purchased a new stake in indie Semiconductor in the 2nd quarter worth approximately $39,000. Finally, Gainplan LLC purchased a new stake in indie Semiconductor in the 4th quarter worth approximately $39,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
About indie Semiconductor
(
Get Free Report)
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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