indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 4,720 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 4,720 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $2.99, for a total value of $14,112.80. Following the completion of the transaction, the chief operating officer owned 137,954 shares of the company’s stock, valued at $412,482.46. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, March 9th, Michael Wittmann sold 18,750 shares of indie Semiconductor stock. The stock was sold at an average price of $2.54, for a total transaction of $47,625.00.
• On Monday, March 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The shares were sold at an average price of $3.50, for a total transaction of $131,250.00.

indie Semiconductor Stock Down 1.7%

indie Semiconductor stock opened at $2.89 on Wednesday. The company has a 50 day moving average of $3.28 and a 200-day moving average of $3.93. The company has a quick ratio of 3.10, a current ratio of 3.73 and a debt-to-equity ratio of 0.88. indie Semiconductor, Inc. has a twelve month low of $1.60 and a twelve month high of $6.05. The stock has a market capitalization of $646.38 million, a PE ratio of -3.96 and a beta of 2.56.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $58.01 million for the quarter, compared to analyst estimates of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business posted ($0.07) earnings per share. On average, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, UBS Group set a $4.25 price target on indie Semiconductor in a research report on Sunday, February 22nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.45.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its stake in shares of indie Semiconductor by 32.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after buying an additional 3,921 shares during the last quarter. Cetera Investment Advisers increased its position in shares of indie Semiconductor by 20.5% in the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after acquiring an additional 4,365 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in indie Semiconductor by 33.1% during the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after acquiring an additional 4,763 shares in the last quarter. Abel Hall LLC raised its holdings in indie Semiconductor by 42.3% during the fourth quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock worth $60,000 after acquiring an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC boosted its position in indie Semiconductor by 1.9% during the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock valued at $948,000 after purchasing an additional 5,055 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

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.