Key Points
- Indie Semiconductor President Ichiro Aoki sold 300,562 shares on June 2 at an average price of $5.18, totaling about $1.56 million. After the sale, he held 107,148 shares, a 73.72% reduction in his position.
- Aoki has been actively selling shares over the past several weeks, with multiple additional transactions in late April and May that brought in millions of dollars in proceeds.
- Despite recent insider selling, indie Semiconductor reported revenue and EPS in line with expectations in its latest quarter, while analysts currently rate the stock a Hold with a consensus price target of $6.92.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 6,000 shares of indie Semiconductor stock in a transaction on Monday, June 1st. The stock was sold at an average price of $4.94, for a total transaction of $29,640.00. Following the transaction, the chief financial officer owned 114,787 shares in the company, valued at approximately $567,047.78. This trade represents a 4.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Naixi Wu also recently made the following trade(s):
- On Tuesday, June 2nd, Naixi Wu sold 12,898 shares of indie Semiconductor stock. The stock was sold at an average price of $5.12, for a total transaction of $66,037.76.
- On Thursday, April 9th, Naixi Wu sold 55,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.81, for a total transaction of $154,550.00.
- On Monday, April 6th, Naixi Wu sold 5,876 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total transaction of $17,569.24.
- On Friday, March 13th, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.51, for a total transaction of $15,060.00.
indie Semiconductor Price Performance
Shares of NASDAQ:INDI opened at $4.88 on Thursday. The firm has a market cap of $1.11 billion, a PE ratio of -6.42 and a beta of 2.73. The firm's fifty day moving average is $3.86 and its 200-day moving average is $3.74. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). The company had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. indie Semiconductor's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Sell-side analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.
Hedge Funds Weigh In On indie Semiconductor
Several hedge funds and other institutional investors have recently bought and sold shares of INDI. Royal Bank of Canada lifted its holdings in 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. lifted its holdings in indie Semiconductor by 42.4% in 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 buying an additional 298,339 shares during the period. Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 3,037,435 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of indie Semiconductor by 5.6% during the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company's stock valued at $909,000 after purchasing an additional 13,495 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of indie Semiconductor by 24.3% during the second quarter. Rhumbline Advisers now owns 299,275 shares of the company's stock valued at $1,065,000 after purchasing an additional 58,473 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.
Analyst Upgrades and Downgrades
INDI has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a "neutral" rating in a report on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of indie Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.92.
Check Out Our Latest Research Report on indie Semiconductor
indie Semiconductor Company Profile
(
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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