indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 37,500 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 37,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $5.13, for a total transaction of $192,375.00. Following the completion of the sale, the chief operating officer directly owned 137,954 shares of the company’s stock, valued at $707,704.02. The trade was a 21.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Michael Wittmann also recently made the following trade(s):

• On Monday, April 6th, Michael Wittmann sold 4,720 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total transaction of $14,112.80.
• On Monday, March 9th, Michael Wittmann sold 18,750 shares of indie Semiconductor stock. The shares were sold at an average price of $2.54, for a total transaction of $47,625.00.

indie Semiconductor Price Performance

INDI opened at $4.88 on Thursday. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. indie Semiconductor, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05. The company has a fifty day simple moving average of $3.86 and a 200 day simple moving average of $3.74. The stock has a market cap of $1.11 billion, a P/E ratio of -6.42 and a beta of 2.73.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The firm had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. During the same period in the previous year, the company posted ($0.08) earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts expect that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INDI. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, UBS Group lifted their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, indie Semiconductor currently has an average rating of “Hold” and an average price target of $6.92.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of INDI. Envestnet Asset Management Inc. increased its stake in indie Semiconductor by 32.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock valued at $66,000 after buying an additional 3,921 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of indie Semiconductor by 20.5% during the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock worth $91,000 after buying an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of indie Semiconductor by 33.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock valued at $68,000 after acquiring an additional 4,763 shares in the last quarter. Abel Hall LLC grew its holdings in shares of indie Semiconductor by 42.3% in the 4th quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock valued at $60,000 after acquiring an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in shares of indie Semiconductor by 1.9% in the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock valued at $948,000 after acquiring an additional 5,055 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Company Profile

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.