indie Semiconductor, Inc. (NASDAQ:INDI – Get Free Report) CFO Naixi Wu sold 23,170 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $3.72, for a total value of $86,192.40. Following the completion of the sale, the chief financial officer owned 156,058 shares of the company’s stock, valued at $580,535.76. This trade represents a 12.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Naixi Wu also recently made the following trade(s):
- 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 Price Performance
Shares of INDI stock traded down $0.16 during mid-day trading on Tuesday, hitting $3.55. 4,218,385 shares of the stock traded hands, compared to its average volume of 5,406,063. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The company’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $3.75. The firm has a market cap of $822.93 million, a price-to-earnings ratio of -4.86 and a beta of 2.79.
Institutional Investors Weigh In On indie Semiconductor
A number of institutional investors and hedge funds have recently modified their holdings of INDI. Royal Bank of Canada boosted its position in shares of indie Semiconductor by 309.7% in the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after purchasing an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after buying an additional 298,339 shares during the period. Millennium Management LLC raised its holdings in indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after buying an additional 3,037,435 shares during the period. JPMorgan Chase & Co. lifted its stake in indie Semiconductor by 5.6% during the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock valued at $909,000 after buying an additional 13,495 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in indie Semiconductor by 24.3% during the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after buying an additional 58,473 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. TD Cowen upped their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. UBS Group boosted their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. Roth Capital set a $5.00 target price on shares of indie Semiconductor in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, indie Semiconductor currently has an average rating of “Hold” and a consensus price target of $4.75.
View Our Latest Report on INDI
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.
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