Michael Wittmann Sells 6,250 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 6,250 shares of indie Semiconductor stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $4.67, for a total transaction of $29,187.50. Following the transaction, the chief operating officer directly owned 139,352 shares of the company’s stock, valued at approximately $650,773.84. This trade represents a 4.29% 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 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 shares were sold at an average price of $4.80, for a total transaction of $190,296.00.
• 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 transaction of $192,375.00.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock traded up $0.25 during trading hours on Wednesday, reaching $4.37. The stock had a trading volume of 5,411,068 shares, compared to its average volume of 5,144,567. The stock’s 50 day moving average is $4.32 and its 200 day moving average is $3.78. The firm has a market capitalization of $991.55 million, a PE ratio of -5.75 and a beta of 2.75. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. TD Cowen began coverage on shares of indie Semiconductor in a research note on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price target on the stock. Finally, UBS Group boosted their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.58.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors have recently bought and sold shares of the company. Optiver Holding B.V. raised its holdings in shares of indie Semiconductor by 7,163.7% during the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock valued at $26,000 after acquiring an additional 8,095 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of indie Semiconductor during the first quarter worth approximately $35,000. Evergreen Capital Management LLC acquired a new position in indie Semiconductor in the 2nd quarter valued at $37,000. Gainplan LLC acquired a new position in indie Semiconductor in the 4th quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in indie Semiconductor by 45,829.2% in the 4th 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 in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.