Insider Selling: indie Semiconductor (NASDAQ:INDI) COO Sells 17,045 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 17,045 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $3.72, for a total value of $63,407.40. Following the transaction, the chief operating officer directly owned 112,797 shares of the company’s stock, valued at approximately $419,604.84. This trade represents a 13.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, August 14th, Michael Wittmann sold 42,468 shares of indie Semiconductor stock. The shares were sold at an average price of $4.10, for a total value of $174,118.80.
• On Monday, July 6th, Michael Wittmann sold 6,250 shares of indie Semiconductor stock. The shares were sold at an average price of $4.67, for a total value 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 value of $134,421.15.
• On Thursday, June 4th, Michael Wittmann sold 39,645 shares of indie Semiconductor stock. The stock was sold at an average price of $4.80, for a total value of $190,296.00.

indie Semiconductor Stock Performance

INDI traded down $0.16 during trading hours on Tuesday, hitting $3.55. The stock had a trading volume of 4,218,385 shares, compared to its average volume of 5,406,063. The company’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $3.75. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The stock has a market cap of $822.93 million, a PE ratio of -4.86 and a beta of 2.79. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $64.01 million for the quarter, compared to the consensus estimate of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The company’s revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. Equities analysts anticipate that indie Semiconductor, Inc. will post -0.53 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on INDI. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. UBS Group increased their target price on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Roth Capital set a $5.00 price target on indie Semiconductor in a report on Friday, August 7th. TD Cowen lifted their price target on indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, indie Semiconductor has an average rating of “Hold” and an average target price of $4.75.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. increased its holdings in indie Semiconductor by 7,163.7% during the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after acquiring an additional 8,095 shares during the period. Principal Financial Group Inc. purchased a new stake in indie Semiconductor in the 1st quarter worth approximately $35,000. Evergreen Capital Management LLC bought a new position in indie Semiconductor in the 2nd quarter valued at $37,000. Caitong International Asset Management Co. Ltd grew its position in shares of indie Semiconductor by 45,829.2% during the 4th 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. Finally, Jump Financial LLC purchased a new position in shares of indie Semiconductor during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors 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.