Insider Selling: indie Semiconductor (NASDAQ:INDI) COO Sells $192,375.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 37,500 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $5.13, for a total value of $192,375.00. Following the sale, the chief operating officer owned 137,954 shares of the company’s stock, valued at approximately $707,704.02. The trade was a 21.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, June 4th, Michael Wittmann sold 39,645 shares of indie Semiconductor stock. The shares were sold at an average price of $4.80, for a total value of $190,296.00.
• On Monday, April 6th, Michael Wittmann sold 4,720 shares of indie Semiconductor stock. The shares were sold at an average price of $2.99, for a total value of $14,112.80.
• On Monday, March 9th, Michael Wittmann sold 18,750 shares of indie Semiconductor stock. The shares were sold at an average price of $2.54, for a total value of $47,625.00.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $4.05 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. indie Semiconductor, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $6.05. The company has a market cap of $918.95 million, a price-to-earnings ratio of -5.33 and a beta of 2.73. The stock has a fifty day moving average price of $3.91 and a 200-day moving average price of $3.75.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The business had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same period in the prior year, the company earned ($0.08) EPS. indie Semiconductor’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INDI. UBS Group upped their price objective on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.92.

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently bought and sold shares of INDI. 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 valued at $26,000 after purchasing an additional 8,095 shares during the last quarter. Principal Financial Group Inc. bought a new position in indie Semiconductor in the first quarter valued at about $35,000. Evergreen Capital Management LLC bought a new position in indie Semiconductor in the second quarter valued at about $37,000. Gainplan LLC bought a new position in indie Semiconductor in the fourth quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd raised its position in indie Semiconductor by 45,829.2% in the fourth 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 during the last quarter. 67.73% of the stock is currently owned by institutional investors.

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.