Michael Wittmann Sells 42,468 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 42,468 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $4.10, for a total value of $174,118.80. Following the sale, the chief operating officer directly owned 96,884 shares in the company, valued at approximately $397,224.40. This represents a 30.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, July 6th, Michael Wittmann sold 6,250 shares of indie Semiconductor stock. The shares were sold at an average price of $4.67, for a total value of $29,187.50.
• On Thursday, July 2nd, Michael Wittmann sold 30,207 shares of indie Semiconductor stock. The shares were sold at an average price of $4.45, for a total value of $134,421.15.
• 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 value of $190,296.00.
• On Tuesday, June 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The stock was sold at an average price of $5.13, for a total transaction of $192,375.00.

indie Semiconductor Stock Performance

Shares of INDI opened at $4.01 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The firm’s 50 day moving average price is $3.93 and its two-hundred day moving average price is $3.75. The firm has a market cap of $929.56 million, a P/E ratio of -5.49 and a beta of 2.79.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The company had revenue of $64.01 million during the quarter, compared to analysts’ expectations of $62.49 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, analysts forecast that indie Semiconductor, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently modified their holdings of the company. Primecap Management Co. CA grew its holdings in indie Semiconductor by 3.0% during the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock worth $105,105,000 after purchasing an additional 873,940 shares during the period. Bamco Inc. NY raised its stake in indie Semiconductor by 0.7% in the fourth quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock valued at $76,621,000 after buying an additional 148,455 shares during the period. Granahan Investment Management LLC lifted its position in shares of indie Semiconductor by 17.8% in the first quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock valued at $65,314,000 after buying an additional 3,067,255 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of indie Semiconductor by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock valued at $54,693,000 after buying an additional 210,463 shares during the last quarter. Finally, Elemental Capital Partners LLC boosted its stake in shares of indie Semiconductor by 60.0% during the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock worth $40,715,000 after acquiring an additional 4,741,680 shares during the period. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen lifted their price target on indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a research note on Monday, July 13th. UBS Group increased their price objective on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Friday, July 17th. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Roth Capital set a $5.00 price target on indie Semiconductor in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.75.

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.