indie Semiconductor (NASDAQ:INDI) COO Sells $174,118.80 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 42,468 shares of indie Semiconductor stock in a transaction on 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 transaction, the chief operating officer owned 96,884 shares in the company, valued at approximately $397,224.40. This represents a 30.48% decrease in their ownership of the stock. The transaction 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, 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 transaction of $29,187.50.
• 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 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 value of $192,375.00.

indie Semiconductor Stock Down 0.2%

INDI opened at $4.00 on Friday. The business has a 50 day moving average price of $3.93 and a two-hundred day moving average price of $3.75. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. The company has a market cap of $927.24 million, a PE ratio of -5.48 and a beta of 2.79. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05.

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

Institutional Trading of indie Semiconductor

Institutional investors have recently modified their holdings of the business. Optiver Holding B.V. raised its position in indie Semiconductor by 7,163.7% in the first 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 in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of indie Semiconductor during the 2nd quarter worth $37,000. Principal Financial Group Inc. acquired a new position in shares of indie Semiconductor during the 1st quarter worth $35,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of indie Semiconductor by 45,829.2% in 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 in the 2nd quarter valued at about $39,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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 report on Saturday, May 16th. Roth Capital set a $5.00 price objective on shares of indie Semiconductor in a research report on Friday, August 7th. TD Cowen raised their target price on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Friday, July 17th. Finally, UBS Group boosted their price target 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. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, indie Semiconductor presently has an average rating of “Hold” and an average price target of $4.75.

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.