indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 39,645 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 39,645 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $4.80, for a total value of $190,296.00. Following the transaction, the chief operating officer directly owned 98,309 shares in the company, valued at approximately $471,883.20. This represents a 28.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, June 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The shares were sold at an average price of $5.13, for a total value of $192,375.00.
• 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

Shares of 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. The firm has a market cap of $918.95 million, a price-to-earnings ratio of -5.33 and a beta of 2.73. The business’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $3.75. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on INDI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. UBS Group raised their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.92.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in indie Semiconductor by 309.7% in the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after acquiring an additional 416,519 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of indie Semiconductor by 42.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock valued at $2,040,000 after purchasing an additional 298,339 shares during the period. Millennium Management LLC raised its stake in shares of indie Semiconductor by 456.6% in the first 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 in the last quarter. JPMorgan Chase & Co. raised its stake in shares of indie Semiconductor by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock valued at $909,000 after purchasing an additional 13,495 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of indie Semiconductor by 24.3% in the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after purchasing an additional 58,473 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

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.