Key Points
- Director insider selling: Sonalee Elizabeth Parekh sold 59,932 indie Semiconductor shares for $243,923, reducing her position by 37.5% to 99,857 shares. She also sold 20,000 shares the prior week.
- Quarterly results: indie Semiconductor met its quarterly EPS estimate with a loss of $0.05 per share, while revenue of $64.01 million exceeded estimates and increased 24% year over year.
- Analyst outlook remains cautious: The stock has an average “Hold” rating and a consensus price target of $4.75, with one Buy, two Hold and one Sell rating.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) Director Sonalee Elizabeth Parekh sold 59,932 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $4.07, for a total transaction of $243,923.24. Following the transaction, the director owned 99,857 shares in the company, valued at approximately $406,417.99. The trade was a 37.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Sonalee Elizabeth Parekh also recently made the following trade(s):
- On Wednesday, August 12th, Sonalee Elizabeth Parekh sold 20,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.80, for a total transaction of $76,000.00.
indie Semiconductor Stock Up 3.8%
NASDAQ INDI opened at $4.15 on Friday. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The stock has a market cap of $962.01 million, a PE ratio of -5.68 and a beta of 2.79. The firm has a 50-day simple moving average of $3.94 and a 200 day simple moving average of $3.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The company's quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. On average, research analysts forecast that indie Semiconductor, Inc. will post -0.53 EPS for the current year.
Analyst Ratings Changes
Several research analysts recently commented on INDI shares. Roth Capital set a $5.00 target price on indie Semiconductor in a research report on Friday, August 7th. Wall Street Zen upgraded shares of indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. TD Cowen raised their price objective on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a report on Monday, July 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Friday, July 17th. Finally, UBS Group increased their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $4.75.
Get Our Latest Stock Analysis on indie Semiconductor
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Teza Capital Management LLC acquired a new position in indie Semiconductor in the second quarter valued at about $436,000. Madison Asset Management LLC acquired a new stake in indie Semiconductor during the 2nd quarter valued at $2,310,000. FNY Investment Advisers LLC bought a new position in shares of indie Semiconductor in the second quarter valued at about $449,000. Moody National Bank Trust Division lifted its position in shares of indie Semiconductor by 5.3% during the second quarter. Moody National Bank Trust Division now owns 997,024 shares of the company's stock worth $4,477,000 after purchasing an additional 50,364 shares in the last quarter. Finally, Optiver Holding B.V. lifted its holdings in 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. 67.73% of the stock is currently owned by institutional investors and hedge funds.
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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