indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 18,750 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 18,750 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $2.54, for a total value of $47,625.00. Following the completion of the sale, the chief operating officer directly owned 130,135 shares of the company’s stock, valued at $330,542.90. The trade was a 12.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 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 Stock Up 0.8%

NASDAQ INDI opened at $2.61 on Wednesday. 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 fifty-two week low of $1.53 and a fifty-two week high of $6.05. The business has a 50 day moving average price of $3.77 and a two-hundred day moving average price of $4.12. The stock has a market cap of $573.23 million, a PE ratio of -3.58 and a beta of 2.55.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The company 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 business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Trading of indie Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the company. HBK Sorce Advisory LLC acquired a new position in shares of indie Semiconductor in the 3rd quarter worth approximately $41,000. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor during the 2nd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd lifted its stake in indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after purchasing an additional 10,999 shares during the last quarter. Jump Financial LLC acquired a new position in indie Semiconductor in the second quarter worth $39,000. Finally, Gainplan LLC bought a new stake in indie Semiconductor during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INDI shares. Wall Street Zen cut shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. UBS Group set a $4.25 target price on indie Semiconductor in a research report on Sunday, February 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Five 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.45.

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.