Michael Wittmann Sells 15,313 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 15,313 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $3.67, for a total transaction of $56,198.71. Following the sale, the chief operating officer owned 111,385 shares in the company, valued at approximately $408,782.95. This trade represents a 12.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, December 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The shares were sold at an average price of $3.74, for a total value of $140,250.00.

indie Semiconductor Trading Up 9.3%

Shares of indie Semiconductor stock traded up $0.34 during trading hours on Tuesday, reaching $4.00. 3,633,305 shares of the company’s stock were exchanged, compared to its average volume of 3,035,014. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $6.05. The firm has a market capitalization of $878.52 million, a price-to-earnings ratio of -5.33 and a beta of 2.54. The company has a fifty day moving average of $4.07 and a 200-day moving average of $4.19. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $53.68 million during the quarter, compared to analysts’ expectations of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. During the same period in the prior year, the firm earned ($0.09) EPS. indie Semiconductor’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On indie Semiconductor

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC raised its stake in shares of indie Semiconductor by 9.0% in the 2nd quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock valued at $142,000 after acquiring an additional 3,300 shares during the period. Los Angeles Capital Management LLC increased its holdings in indie Semiconductor by 9.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock valued at $162,000 after purchasing an additional 3,898 shares in the last quarter. CWM LLC increased its holdings in indie Semiconductor by 34.7% in the 2nd quarter. CWM LLC now owns 15,215 shares of the company’s stock valued at $54,000 after purchasing an additional 3,916 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of indie Semiconductor by 32.1% during the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after purchasing an additional 3,921 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of indie Semiconductor by 27.0% during the second quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock worth $71,000 after purchasing an additional 4,207 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

INDI has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Wednesday, October 8th. Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. UBS Group lifted their price target on shares of indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, November 10th. Finally, Roth Capital reissued a “buy” rating and set a $8.00 price objective on shares of indie Semiconductor in a research note on Wednesday, October 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.60.

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.