indie Semiconductor (NASDAQ:INDI) CFO Naixi Wu Sells 5,876 Shares
by Renee Jackson · The Cerbat Gemindie Semiconductor, Inc. (NASDAQ:INDI – Get Free Report) CFO Naixi Wu sold 5,876 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $2.99, for a total transaction of $17,569.24. Following the transaction, the chief financial officer directly owned 75,787 shares of the company’s stock, valued at $226,603.13. This represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Naixi Wu also recently made the following trade(s):
- On Friday, March 13th, Naixi Wu sold 6,000 shares of indie Semiconductor stock. The stock was sold at an average price of $2.51, for a total transaction of $15,060.00.
- On Wednesday, March 4th, Naixi Wu sold 531 shares of indie Semiconductor stock. The stock was sold at an average price of $2.53, for a total transaction of $1,343.43.
- On Monday, March 2nd, Naixi Wu sold 17,162 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total transaction of $61,096.72.
indie Semiconductor Stock Performance
NASDAQ INDI traded down $0.05 during trading hours on Tuesday, hitting $2.89. 2,570,369 shares of the stock were exchanged, compared to its average volume of 4,549,985. The company has a market cap of $646.38 million, a price-to-earnings ratio of -3.96 and a beta of 2.56. indie Semiconductor, Inc. has a 12-month low of $1.60 and a 12-month high of $6.05. The stock has a 50-day moving average of $3.28 and a 200 day moving average of $3.93. The company has a quick ratio of 3.10, a current ratio of 3.73 and a debt-to-equity ratio of 0.88.
indie Semiconductor (NASDAQ:INDI – Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. As a group, equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Wall Street Zen cut shares of indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, UBS Group set a $4.25 target price on shares of indie Semiconductor in a report on Sunday, February 22nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, indie Semiconductor presently has a consensus rating of “Moderate Buy” and an average target price of $6.45.
Get Our Latest Stock Analysis on indie Semiconductor
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC purchased a new position in indie Semiconductor in the second quarter valued at about $37,000. Gainplan LLC purchased a new position in indie Semiconductor in the fourth quarter valued at about $39,000. Caitong International Asset Management Co. Ltd increased its holdings in indie Semiconductor by 45,829.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after buying an additional 10,999 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of indie Semiconductor in the second quarter valued at approximately $39,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of indie Semiconductor in the third quarter valued at approximately $41,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
About indie Semiconductor
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.