Key Points
- CFO Naixi Wu sold 3,750 indie Semiconductor shares at an average price of $3.18, generating $11,925 and reducing her holdings by 2.33% to 156,933 shares.
- Wu has made several additional sales since July, totaling more than 70,000 shares, while indie Semiconductor stock opened at $3.20 and remains well below its 52-week high of $6.05.
- The company reported quarterly revenue of $64.01 million, up 24% year over year, but posted a $0.05 per-share loss; analysts maintain an overall Hold rating with an average price target of $4.75.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 3,750 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $3.18, for a total transaction of $11,925.00. Following the completion of the transaction, the chief financial officer owned 156,933 shares in the company, valued at $499,046.94. This trade represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
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 Tuesday, September 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total transaction of $21,360.00.
- On Monday, August 31st, Naixi Wu sold 23,170 shares of indie Semiconductor stock. The shares were 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 stock was sold at an average price of $4.37, for a total transaction of $85,826.80.
indie Semiconductor Stock Down 0.3%
Shares of NASDAQ INDI opened at $3.20 on Wednesday. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. The stock has a market capitalization of $741.79 million, a P/E ratio of -4.38 and a beta of 2.78. The company has a 50-day moving average price of $3.64 and a 200-day moving average price of $3.72.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). The firm had revenue of $64.01 million during the quarter, compared to the consensus estimate of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The business's revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, equities research analysts forecast that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.
Analysts Set New Price Targets
INDI has been the topic of several research reports. Roth Capital set a $5.00 target price on indie Semiconductor in a research note on Friday, August 7th. 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 restated a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $4.75.
Check Out Our Latest Research Report on indie Semiconductor
Hedge Funds Weigh In On indie Semiconductor
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elemental Capital Partners LLC grew its holdings in shares of indie Semiconductor by 60.0% during the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company's stock worth $40,715,000 after purchasing an additional 4,741,680 shares in the last quarter. Granahan Investment Management LLC lifted its position in indie Semiconductor by 17.8% during the first quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company's stock valued at $65,314,000 after purchasing an additional 3,067,255 shares during the last quarter. Wasatch Advisors LP grew its stake in indie Semiconductor by 130.0% in the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company's stock worth $12,272,000 after buying an additional 2,154,279 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of indie Semiconductor in the 1st quarter worth $2,722,000. Finally, Madison Asset Management LLC bought a new position in shares of indie Semiconductor in the 2nd quarter worth $2,310,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
indie Semiconductor Company Profile
(
Get Free Report)
indie Semiconductor, Inc develops semiconductor and software solutions for the automotive industry. Its technology is designed to support advanced driver-assistance systems (ADAS), autonomous-driving applications, vehicle connectivity, and in-cabin user experiences.
The company's product portfolio includes radar and lidar components, computer-vision processors, automotive imaging solutions, wireless connectivity products, audio and voice-processing technologies, and power-management devices.
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