indie Semiconductor (NASDAQ:INDI) COO Sells $47,625.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 18,750 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $2.54, for a total value of $47,625.00. Following the transaction, the chief operating officer directly owned 130,135 shares of the company’s stock, valued at approximately $330,542.90. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.50, for a total value of $131,250.00.
• On Monday, January 5th, Michael Wittmann sold 15,313 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total value of $56,198.71.

indie Semiconductor Price Performance

indie Semiconductor stock traded up $0.12 during midday trading on Friday, reaching $2.56. The company’s stock had a trading volume of 297,821 shares, compared to its average volume of 4,310,174. The firm has a market capitalization of $561.15 million, a PE ratio of -3.50 and a beta of 2.55. indie Semiconductor, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $6.05. The stock’s 50 day simple moving average is $3.73 and its 200 day simple moving average is $4.10. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73.

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

Analysts Set New Price Targets

A number of analysts have commented on INDI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. UBS Group set a $4.25 price target on indie Semiconductor in a research report on Sunday, February 22nd. Finally, Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.45.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently bought and sold shares of the stock. Elemental Capital Partners LLC purchased a new stake in shares of indie Semiconductor in the third quarter valued at $30,979,000. Tudor Investment Corp ET AL acquired a new stake in shares of indie Semiconductor during the third quarter valued at $22,385,000. Bamco Inc. NY increased its position in indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock worth $90,049,000 after purchasing an additional 4,813,397 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in indie Semiconductor by 29.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock valued at $63,940,000 after purchasing an additional 4,139,349 shares during the last quarter. Finally, Millennium Management LLC raised its stake in indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after purchasing an additional 3,037,435 shares during the last quarter. 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.