Key Points
- COO Michael Wittmann sold 40,625 shares of indie Semiconductor at an average $3.59 per share, receiving approximately $145,844 and reducing his position by 25.95% to 115,922 shares. He has also made several additional sales since July.
- Indie Semiconductor shares opened at $3.47 and are down 2.8%, while the company remains unprofitable with a negative net margin and analysts forecasting a full-year loss of about $0.53 per share.
- Despite insider selling, quarterly revenue rose 24% year over year to $64.01 million and exceeded estimates. Analysts maintain a consensus Hold rating with an average price target of $4.75, while institutional investors own approximately 67.7% of the stock.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 6,000 shares of indie Semiconductor stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $3.56, for a total value of $21,360.00. Following the sale, the chief financial officer directly owned 150,058 shares of the company's stock, valued at $534,206.48. This represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Naixi Wu also recently made the following trade(s):
- On Wednesday, September 2nd, Naixi Wu sold 21,171 shares of indie Semiconductor stock. The shares were sold at an average price of $3.54, for a total transaction of $74,945.34.
- On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The stock was sold at an average price of $3.72, for a total transaction of $86,192.40.
- On Thursday, July 2nd, Naixi Wu sold 19,640 shares of indie Semiconductor stock. The shares were sold at an average price of $4.37, for a total value of $85,826.80.
indie Semiconductor Trading Down 2.8%
NASDAQ INDI opened at $3.47 on Friday. The stock's 50-day simple moving average is $3.90 and its two-hundred day simple moving average is $3.74. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $804.38 million, a price-to-earnings ratio of -4.75 and a beta of 2.78.
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, hitting the consensus estimate of ($0.05). indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The firm had revenue of $64.01 million during the quarter, compared to analyst estimates of $62.49 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company's revenue was up 24.0% compared to the same quarter last year. Research analysts forecast that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in INDI. Optiver Holding B.V. increased its stake in shares of indie Semiconductor by 7,163.7% in the first 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 during the period. Principal Financial Group Inc. purchased a new stake in indie Semiconductor during the 1st quarter valued at $35,000. Evergreen Capital Management LLC purchased a new stake in indie Semiconductor during the 2nd quarter valued at $37,000. Caitong International Asset Management Co. Ltd grew its holdings 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 last quarter. Finally, Jump Financial LLC bought a new stake in indie Semiconductor in the 2nd quarter worth $39,000. Institutional investors own 67.73% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently commented on INDI shares. Roth Capital set a $5.00 target price on shares of indie Semiconductor in a research report on Friday, August 7th. UBS Group upped 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. Wall Street Zen raised indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. TD Cowen lifted their price objective on indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a report on Monday, July 13th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $4.75.
Get Our Latest Report on INDI
indie Semiconductor News Roundup
Here are the key news stories impacting indie Semiconductor this week:
- Positive Sentiment: Despite the selling, analysts’ consensus price target of $4.75 remains above the recent trading range. The company’s latest quarterly revenue also rose 24% year over year to $64.01 million, exceeding estimates, while its per-share loss improved from the prior year.
- Neutral Sentiment: Institutional investors own approximately 67.7% of indie Semiconductor, indicating continued participation in its automotive semiconductor opportunity, including chips for electric vehicles, advanced driver-assistance systems and infotainment. However, most analyst ratings remain Hold or Neutral.
- Negative Sentiment: COO Michael Wittmann sold 40,625 shares for approximately $145,844 at an average price of $3.59, reducing his direct holding by 25.95%. This follows additional sales of 17,045 shares on August 31 and 42,468 shares on August 14. Insider Selling: indie Semiconductor COO Sells 40,625 Shares of Stock
- Negative Sentiment: CEO Donald McClymont sold 13,384 shares worth about $47,246, reducing his position by 2.71%. CFO Naixi Wu sold a combined 27,171 shares for roughly $96,305 across September 1–2, cutting her reported holdings by about 16%.
- Negative Sentiment: The concentration of selling by the CEO, CFO and COO may weigh on sentiment, particularly because INDI continues to post significant losses. Analysts expect a full-year loss of approximately $0.53 per share, and the stock remains well below its 52-week high of $6.05.
About indie Semiconductor
(
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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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