indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 42,468 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 42,468 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $4.10, for a total transaction of $174,118.80. Following the completion of the sale, the chief operating officer owned 96,884 shares in the company, valued at $397,224.40. This represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, July 6th, Michael Wittmann sold 6,250 shares of indie Semiconductor stock. The stock was sold at an average price of $4.67, for a total transaction of $29,187.50.
• On Thursday, July 2nd, Michael Wittmann sold 30,207 shares of indie Semiconductor stock. The shares were sold at an average price of $4.45, for a total transaction of $134,421.15.
• 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 transaction 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 Stock Performance

Shares of INDI opened at $4.34 on Wednesday. indie Semiconductor, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05. The stock has a fifty day moving average price of $3.93 and a 200-day moving average price of $3.75. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. The firm has a market cap of $1.01 billion, a PE ratio of -5.95 and a beta of 2.79.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The firm had revenue of $64.01 million for the quarter, compared to the consensus estimate of $62.49 million. During the same period in the previous year, the business earned ($0.08) EPS. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. Equities research analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INDI. Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. UBS Group upped 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. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, TD Cowen boosted their price objective 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. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, indie Semiconductor has an average rating of “Hold” and an average target price of $4.75.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted 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 in the last quarter. Cetera Investment Advisers grew its holdings in indie Semiconductor by 20.5% in the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after buying an additional 4,365 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of indie Semiconductor by 33.1% in the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock valued at $68,000 after purchasing an additional 4,763 shares during the period. Abel Hall LLC grew its stake 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 buying an additional 5,030 shares during the period. Finally, Verition Fund Management LLC increased its stake in indie Semiconductor by 1.9% during the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock worth $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.

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.