Michael Wittmann Sells 6,250 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 6,250 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $4.67, for a total transaction of $29,187.50. Following the transaction, the chief operating officer owned 139,352 shares in the company, valued at $650,773.84. This represents a 4.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, July 2nd, Michael Wittmann sold 30,207 shares of indie Semiconductor stock. The stock was 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 shares were sold at an average price of $5.13, for a total transaction of $192,375.00.

indie Semiconductor Stock Up 7.8%

Shares of indie Semiconductor stock opened at $4.71 on Friday. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The company’s 50 day moving average is $4.35 and its 200 day moving average is $3.79. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -6.20 and a beta of 2.75.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The business 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%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. Research analysts anticipate that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on INDI. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen initiated coverage on shares of indie Semiconductor in a research note on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price objective for the company. UBS Group boosted their price objective on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.58.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of INDI. ArrowMark Colorado Holdings LLC acquired a new stake in indie Semiconductor during the 3rd quarter valued at approximately $3,931,000. Tudor Investment Corp ET AL acquired a new position in shares of indie Semiconductor in the 3rd quarter valued at about $22,385,000. Wasatch Advisors LP boosted its stake in shares of indie Semiconductor by 130.0% in the first quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock worth $12,272,000 after buying an additional 2,154,279 shares during the last quarter. General American Investors Co. Inc. boosted its stake in shares of indie Semiconductor by 14.7% in the fourth quarter. General American Investors Co. Inc. now owns 1,954,849 shares of the company’s stock worth $6,901,000 after buying an additional 250,000 shares during the last quarter. Finally, Elemental Capital Partners LLC lifted its stake in shares of indie Semiconductor by 3.8% in the 4th quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock valued at $27,897,000 after purchasing an additional 291,111 shares during the period. 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.