indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 17,045 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 17,045 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $3.72, for a total value of $63,407.40. Following the sale, the chief operating officer directly owned 112,797 shares of the company’s stock, valued at $419,604.84. This trade represents a 13.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 shares were 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 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 transaction of $190,296.00.

indie Semiconductor Stock Performance

Shares of NASDAQ INDI opened at $3.55 on Wednesday. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The business’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $3.75. The firm has a market cap of $822.93 million, a price-to-earnings ratio of -4.86 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI) last issued 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 business had revenue of $64.01 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned ($0.08) earnings per share. As a group, equities research analysts expect that indie Semiconductor, Inc. will post -0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. TD Cowen increased their target price on shares of indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Roth Capital set a $5.00 target price on shares of indie Semiconductor in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. Finally, UBS Group upped their price target on indie Semiconductor from $4.25 to $4.75 and gave the company 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, indie Semiconductor currently has an average rating of “Hold” and an average price target of $4.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Optiver Holding B.V. grew its position in shares of indie Semiconductor by 7,163.7% in the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock valued at $26,000 after purchasing an additional 8,095 shares during the period. Principal Financial Group Inc. acquired a new stake in indie Semiconductor in the 1st quarter valued at $35,000. Evergreen Capital Management LLC bought a new stake in indie Semiconductor during the 2nd quarter worth about $37,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after buying an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of indie Semiconductor in the 2nd quarter valued at about $39,000. 67.73% of the stock is owned by institutional investors and hedge funds.

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.