indie Semiconductor (NASDAQ:INDI) COO Sells $134,421.15 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 30,207 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $4.45, for a total transaction of $134,421.15. Following the transaction, the chief operating officer directly owned 145,602 shares of the company’s stock, valued at $647,928.90. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, July 6th, Michael Wittmann sold 6,250 shares of indie Semiconductor stock. The stock was sold at an average price of $4.67, for a total transaction of $29,187.50.
• 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.
• 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

NASDAQ INDI opened at $4.37 on Thursday. The stock has a market capitalization of $991.55 million, a price-to-earnings ratio of -5.75 and a beta of 2.75. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The business’s fifty day moving average price is $4.33 and its 200-day moving average price is $3.78.

indie Semiconductor (NASDAQ:INDI) last posted 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 company had revenue of $55.46 million during the quarter, compared to analysts’ expectations of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.indie Semiconductor’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, equities analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INDI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. UBS Group upped their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. TD Cowen started coverage on shares of indie Semiconductor in a research report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price target on the stock. Finally, Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Hold” and an average target price of $5.58.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in indie Semiconductor by 32.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after acquiring an additional 3,921 shares in the last quarter. Cetera Investment Advisers lifted its holdings in indie Semiconductor by 20.5% during the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after purchasing an additional 4,365 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of indie Semiconductor by 33.1% in the second quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after purchasing an additional 4,763 shares during the period. Abel Hall LLC increased its stake in shares of indie Semiconductor by 42.3% in the fourth quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock worth $60,000 after purchasing an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of indie Semiconductor by 1.9% in the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock worth $948,000 after purchasing an additional 5,055 shares in 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.