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

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 6,250 shares of indie Semiconductor stock in a transaction on Monday, July 6th. The shares were sold at an average price of $4.67, for a total transaction of $29,187.50. Following the completion of the sale, the chief operating officer directly owned 139,352 shares of the company’s stock, valued at approximately $650,773.84. The trade was a 4.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 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.
• 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 Trading Up 6.1%

Shares of NASDAQ:INDI opened at $4.37 on Thursday. The company has a market cap of $991.55 million, a P/E ratio of -5.75 and a beta of 2.75. The stock’s 50-day moving average is $4.33 and its 200-day moving average is $3.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The company had revenue of $55.46 million for the quarter, compared to the consensus estimate of $55.09 million. During the same period in the previous year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen began coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 price objective for the company. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group raised their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.58.

Institutional Trading of indie Semiconductor

A number of hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in indie Semiconductor in the second quarter worth $449,000. Moody National Bank Trust Division lifted its holdings in shares of indie Semiconductor by 5.3% in the second quarter. Moody National Bank Trust Division now owns 997,024 shares of the company’s stock valued at $4,477,000 after purchasing an additional 50,364 shares in the last quarter. Optiver Holding B.V. boosted its position 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 last quarter. Bank of America Corp DE boosted its holdings in indie Semiconductor by 0.9% during the first quarter. Bank of America Corp DE now owns 875,146 shares of the company’s stock worth $2,818,000 after purchasing an additional 7,875 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its stake in shares of indie Semiconductor by 17.8% during the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock worth $65,314,000 after buying an additional 3,067,255 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.