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 company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $5.13, for a total transaction of $192,375.00. Following the completion of the transaction, the chief operating officer owned 137,954 shares of the company’s stock, valued at $707,704.02. This trade represents a 21.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, April 6th, Michael Wittmann sold 4,720 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total transaction of $14,112.80.
• 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.

indie Semiconductor Stock Down 1.6%

Shares of NASDAQ INDI opened at $4.80 on Friday. 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, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05. The firm has a market capitalization of $1.09 billion, a PE ratio of -6.32 and a beta of 2.73. The firm has a fifty day simple moving average of $3.90 and a two-hundred day simple moving average of $3.75.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The business had revenue of $55.46 million during the quarter, compared to analyst estimates of $55.09 million. During the same period in the prior year, the business earned ($0.08) EPS. The company’s revenue for the quarter 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 year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INDI. Optiver Holding B.V. grew its position in indie Semiconductor by 7,163.7% during the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock valued at $26,000 after purchasing an additional 8,095 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in indie Semiconductor during the 1st quarter valued at about $35,000. Evergreen Capital Management LLC purchased a new stake in indie Semiconductor during the 2nd quarter valued at about $37,000. Gainplan LLC purchased a new stake in indie Semiconductor during the 4th quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd grew its position in indie Semiconductor by 45,829.2% during 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 during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INDI has been the subject of several research reports. UBS Group increased their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. 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. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, indie Semiconductor has an average rating of “Hold” and a consensus price target of $6.92.

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.