Key Points
- CEO Donald Mcclymont sold 126,496 shares of indie Semiconductor on July 2 at an average price of $4.45, generating about $562,907. After the sale, he still held 424,617 shares, a 22.95% reduction in his position.
- This was part of a series of insider sales, including 50,000 shares sold on June 15 and 9,425 shares sold on June 2, indicating repeated trimming by the CEO in recent weeks.
- indie Semiconductor recently reported quarterly EPS of -$0.06, matching estimates, with revenue of $55.46 million, while analysts currently rate the stock a Hold with an average price target of $5.58.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 19,640 shares of indie Semiconductor stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $4.37, for a total value of $85,826.80. Following the sale, the chief financial officer directly owned 134,425 shares in the company, valued at $587,437.25. The trade was a 12.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Naixi Wu also recently made the following trade(s):
- On Tuesday, June 2nd, Naixi Wu sold 12,898 shares of indie Semiconductor stock. The shares were sold at an average price of $5.12, for a total value of $66,037.76.
- On Monday, June 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were sold at an average price of $4.94, for a total transaction of $29,640.00.
- 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.
indie Semiconductor Stock Down 5.9%
NASDAQ:INDI opened at $4.36 on Tuesday. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The company has a market cap of $988.38 million, a PE ratio of -5.73 and a beta of 2.75. The firm's 50 day simple moving average is $4.31 and its 200 day simple moving average is $3.78.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $55.46 million during the quarter, compared to analysts' expectations of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company's revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) EPS. On average, research analysts anticipate that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. TD Cowen started coverage on indie Semiconductor in a research report on Wednesday, June 10th. They issued a "hold" rating and a $4.00 price target on the stock. Wall Street Zen raised indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, UBS Group raised their price objective on indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $5.58.
View Our Latest Stock Analysis on indie Semiconductor
Hedge Funds Weigh In On indie Semiconductor
Institutional investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. boosted its holdings in shares of indie Semiconductor by 7,163.7% during the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company's stock worth $26,000 after buying an additional 8,095 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of indie Semiconductor in the 1st quarter valued at $35,000. Evergreen Capital Management LLC bought a new stake in shares of indie Semiconductor in the 2nd quarter valued at $37,000. Gainplan LLC acquired a new position in shares of indie Semiconductor during the 4th quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company's stock valued at $39,000 after acquiring an additional 10,999 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.
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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