Key Points
- CFO Naixi Wu sold 33,333 shares at an average of $2.05, for about $68,333. After the sale, Wu directly owned 196,516 shares, a 14.5% reduction in their holdings.
- indie Semiconductor’s quarterly revenue rose 30.8% year over year to $70.24 million, slightly above expectations, while its loss of $0.05 per share was wider than analysts’ estimate of $0.04.
- Analyst sentiment is mixed: the stock has a consensus Hold rating and a $3.94 consensus price target, with recent target cuts from B. Riley and TD Cowen.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CFO Naixi Wu sold 33,333 shares of the firm's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $2.05, for a total value of $68,332.65. Following the completion of the transaction, the chief financial officer directly owned 196,516 shares in the company, valued at $402,857.80. The trade was a 14.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Naixi Wu also recently made the following trade(s):
- On Monday, November 2nd, Naixi Wu sold 6,250 shares of indie Semiconductor stock. The stock was sold at an average price of $1.59, for a total value of $9,937.50.
- On Monday, September 21st, Naixi Wu sold 3,750 shares of indie Semiconductor stock. The stock was sold at an average price of $3.18, for a total value of $11,925.00.
- On Wednesday, September 2nd, Naixi Wu sold 21,171 shares of indie Semiconductor stock. The stock was sold at an average price of $3.54, for a total value of $74,945.34.
- On Tuesday, September 1st, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The shares were 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 stock was sold at an average price of $3.72, for a total transaction of $86,192.40.
indie Semiconductor Stock Up 3.6%
Shares of indie Semiconductor stock opened at $2.28 on Wednesday. indie Semiconductor, Inc. has a 1 year low of $1.34 and a 1 year high of $5.49. The stock has a market cap of $528.53 million, a price-to-earnings ratio of -3.17 and a beta of 3.10. The company has a debt-to-equity ratio of 1.28, a current ratio of 3.37 and a quick ratio of 2.86. The firm's 50-day moving average is $2.54 and its two-hundred day moving average is $3.46.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $70.24 million for the quarter, compared to analysts' expectations of $70.21 million. indie Semiconductor had a negative net margin of 61.02% and a negative return on equity of 34.86%. The firm's revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, research analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Roth Capital set a $5.00 target price on indie Semiconductor in a research note on Friday, August 7th. B. Riley Financial reduced their price target on shares of indie Semiconductor from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, November 6th. TD Cowen decreased their price target on indie Semiconductor from $4.50 to $2.00 and set a "hold" rating for the company in a report on Monday, October 19th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, indie Semiconductor has a consensus rating of "Hold" and a consensus target price of $3.94.
Check Out Our Latest Research Report on indie Semiconductor
Hedge Funds Weigh In On indie Semiconductor
Hedge funds and other institutional investors have recently modified their holdings of the company. Moody National Bank Trust Division increased its position in shares of indie Semiconductor by 0.4% during the 3rd quarter. Moody National Bank Trust Division now owns 1,000,840 shares of the company's stock valued at $2,927,000 after purchasing an additional 3,816 shares during the period. Global Retirement Partners LLC increased its stake in shares of indie Semiconductor by 42.0% during the 3rd quarter. Global Retirement Partners LLC now owns 17,555 shares of the company's stock worth $51,000 after purchasing an additional 5,196 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in indie Semiconductor by 37.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 28,199 shares of the company's stock worth $91,000 after acquiring an additional 7,724 shares during the period. Bank of America Corp DE grew its position in indie Semiconductor by 0.9% during the first quarter. Bank of America Corp DE now owns 875,146 shares of the company's stock worth $2,818,000 after buying an additional 7,875 shares in the last quarter. Finally, Optiver Holding B.V. raised its position in 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 purchasing an additional 8,095 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
About indie Semiconductor
(
Get Free Report)
indie Semiconductor, Inc. is a fabless semiconductor company that develops automotive technologies for advanced driver-assistance systems (ADAS), automated driving, in-cabin experiences, vehicle connectivity and electrification. Its products combine analog and mixed-signal circuits with digital processing and software for use in vehicle systems. The company's offerings support applications such as radar, lidar, computer vision, ultrasonic sensing, audio and vehicle networking. Automakers and automotive suppliers use its technologies to help enable sensing, safety and other electronic functions in vehicles.
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