Michael Wittmann Sells 39,645 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 39,645 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $4.80, for a total transaction of $190,296.00. Following the transaction, the chief operating officer owned 98,309 shares of the company’s stock, valued at $471,883.20. This trade represents a 28.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The stock was sold at an average price of $5.13, for a total transaction of $192,375.00.
• On Monday, April 6th, Michael Wittmann sold 4,720 shares of indie Semiconductor stock. The shares were sold at an average price of $2.99, for a total value 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 Stock Down 15.6%

INDI stock opened at $4.05 on Friday. The company has a fifty day moving average price of $3.91 and a 200 day moving average price of $3.75. indie Semiconductor, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05. The company has a market cap of $918.95 million, a price-to-earnings ratio of -5.33 and a beta of 2.73. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on INDI shares. UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Two 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.92.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. lifted its position in indie Semiconductor by 7,163.7% during the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock valued at $26,000 after buying an additional 8,095 shares in the last quarter. Principal Financial Group Inc. acquired a new position in indie Semiconductor in the first quarter worth about $35,000. Evergreen Capital Management LLC acquired a new position in indie Semiconductor in the second quarter worth about $37,000. Gainplan LLC acquired a new position in indie Semiconductor in the fourth quarter worth about $39,000. Finally, Caitong International Asset Management Co. Ltd grew its stake 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 worth $39,000 after purchasing an additional 10,999 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.