Insider Selling: indie Semiconductor (NASDAQ:INDI) COO Sells $14,112.80 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 4,720 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $2.99, for a total transaction of $14,112.80. Following the transaction, the chief operating officer directly owned 137,954 shares in the company, valued at approximately $412,482.46. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, March 9th, Michael Wittmann sold 18,750 shares of indie Semiconductor stock. The stock was sold at an average price of $2.54, for a total transaction of $47,625.00.
• On Monday, March 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.50, for a total transaction of $131,250.00.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $2.83 on Friday. The firm has a market cap of $632.96 million, a PE ratio of -3.88 and a beta of 2.56. The firm’s 50 day simple moving average is $3.22 and its 200-day simple moving average is $3.91. indie Semiconductor, Inc. has a one year low of $1.74 and a one year high of $6.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $58.01 million for the quarter, compared to analyst estimates of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share. As a group, equities analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on INDI shares. Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, UBS Group set a $4.25 price objective on shares of indie Semiconductor in a research note on Sunday, February 22nd. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.45.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA boosted its stake in indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock valued at $105,105,000 after acquiring an additional 873,940 shares in the last quarter. Bamco Inc. NY boosted its stake in indie Semiconductor by 23.5% in the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after acquiring an additional 4,813,397 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in indie Semiconductor by 29.9% in the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock valued at $63,940,000 after acquiring an additional 4,139,349 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 210,463 shares in the last quarter. Finally, Elemental Capital Partners LLC boosted its stake in indie Semiconductor by 3.8% in the fourth quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock valued at $27,897,000 after acquiring an additional 291,111 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.