Michael Wittmann Sells 37,500 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 37,500 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $3.50, for a total value of $131,250.00. Following the sale, the chief operating officer directly owned 123,885 shares of the company’s stock, valued at approximately $433,597.50. This trade represents a 23.24% decrease in their position. 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, January 5th, Michael Wittmann sold 15,313 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total value of $56,198.71.
• On Tuesday, December 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.74, for a total value of $140,250.00.

indie Semiconductor Stock Down 7.1%

Shares of INDI opened at $3.16 on Wednesday. The company’s 50-day moving average price is $3.88 and its 200 day moving average price is $4.18. indie Semiconductor, Inc. has a 12-month low of $1.53 and a 12-month high of $6.05. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86. The firm has a market cap of $694.03 million, a P/E ratio of -4.33 and a beta of 2.55.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 28.81%. The business had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $57.11 million. During the same period last year, the business earned ($0.07) earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC raised its position in indie Semiconductor by 9.0% in the 2nd quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock valued at $142,000 after purchasing an additional 3,300 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in indie Semiconductor by 9.3% in the second quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock valued at $162,000 after acquiring an additional 3,898 shares in the last quarter. CWM LLC lifted its stake in indie Semiconductor by 34.7% in the second quarter. CWM LLC now owns 15,215 shares of the company’s stock worth $54,000 after acquiring an additional 3,916 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in indie Semiconductor by 32.1% in the third 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 during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in indie Semiconductor by 27.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock worth $71,000 after acquiring an additional 4,207 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

More indie Semiconductor News

Here are the key news stories impacting indie Semiconductor this week:

• Positive Sentiment: Company announced a planned private offering of $150 million aggregate principal amount of convertible senior notes due 2031, which will provide material near-term liquidity to fund operations and growth initiatives. Investors should monitor the offering terms (conversion price, interest, covenants) to judge dilution and financing cost. indie Announces Proposed Convertible Senior Notes Offering
• Neutral Sentiment: Recent quarterly results: EPS matched consensus at ($0.07) and revenue ($58.0M) was roughly in line with estimates; however net margin remains deeply negative. Analysts are mixed — several buy ratings remain but some firms have cut coverage; the average target (~$6.45) implies upside vs. current levels but consensus EPS remains negative for the year. MarketBeat coverage and analyst notes
• Negative Sentiment: Significant insider selling: CEO, COO, CFO and the President disclosed sizable share sales on March 2–3 (CEO sold ~90.6k shares, COO ~37.5k, CFO ~17.2k, President ~4.6k). The magnitude and concentration of sales by top executives can be perceived as a negative signal about management’s near-term view of the stock and increases free-float. InsiderTrades summary of recent insider sales

Wall Street Analyst Weigh In

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

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.