indie Semiconductor (NASDAQ:INDI) COO Sells $145,843.75 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 40,625 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $3.59, for a total transaction of $145,843.75. Following the transaction, the chief operating officer directly owned 115,922 shares of the company’s stock, valued at $416,159.98. The trade was a 25.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, August 31st, Michael Wittmann sold 17,045 shares of indie Semiconductor stock. The stock was sold at an average price of $3.72, for a total value of $63,407.40.
• 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 stock was 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 stock was sold at an average price of $4.45, for a total value of $134,421.15.

indie Semiconductor Trading Down 2.8%

Shares of NASDAQ INDI traded down $0.10 during midday trading on Thursday, reaching $3.47. The stock had a trading volume of 3,273,209 shares, compared to its average volume of 7,549,274. The company’s 50 day moving average price is $3.90 and its 200 day moving average price is $3.74. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The firm has a market cap of $804.38 million, a price-to-earnings ratio of -4.75 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. indie Semiconductor’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, sell-side analysts expect that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Institutional Trading of indie Semiconductor

Hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. raised its holdings in indie Semiconductor by 7,163.7% during the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after buying an additional 8,095 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of indie Semiconductor during the first quarter valued at about $35,000. Evergreen Capital Management LLC bought a new stake in shares of indie Semiconductor during the second quarter worth about $37,000. Caitong International Asset Management Co. Ltd raised 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 worth $39,000 after acquiring an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC bought a new position in indie Semiconductor in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

INDI has been the topic of a number of research analyst reports. TD Cowen increased their price target on indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a report on Monday, July 13th. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. UBS Group upped their price objective on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Roth Capital set a $5.00 target price on indie Semiconductor in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.