indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 30,207 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 30,207 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $4.45, for a total transaction of $134,421.15. Following the sale, the chief operating officer directly owned 145,602 shares in the company, valued at approximately $647,928.90. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, June 4th, Michael Wittmann sold 39,645 shares of indie Semiconductor stock. The shares were sold at an average price of $4.80, for a total value of $190,296.00.
• 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.

indie Semiconductor Price Performance

indie Semiconductor stock traded up $0.30 during midday trading on Monday, reaching $4.63. The company had a trading volume of 6,352,673 shares, compared to its average volume of 5,117,980. The firm’s fifty day simple moving average is $4.29 and its 200-day simple moving average is $3.77. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The company has a market capitalization of $1.05 billion, a P/E ratio of -6.09 and a beta of 2.75. 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 released its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $55.46 million during the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. As a group, equities analysts anticipate that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on INDI shares. TD Cowen began coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price objective on the stock. 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 increased their price objective on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, indie Semiconductor presently has a consensus rating of “Hold” and an average price target of $5.58.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently modified their holdings of INDI. Optiver Holding B.V. increased its holdings 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 valued at $26,000 after buying an additional 8,095 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of indie Semiconductor in the 1st quarter valued at about $35,000. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor during the 2nd quarter worth about $37,000. Gainplan LLC purchased a new stake in indie Semiconductor during the fourth quarter worth approximately $39,000. Finally, Caitong International Asset Management Co. Ltd boosted 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 purchasing an additional 10,999 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.