Insider Selling: indie Semiconductor (NASDAQ:INDI) COO Sells $190,296.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 39,645 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $4.80, for a total value of $190,296.00. Following the transaction, the chief operating officer directly owned 98,309 shares in the company, valued at $471,883.20. The trade was a 28.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 value of $192,375.00.
• 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 value 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 value of $47,625.00.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $4.05 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. indie Semiconductor, Inc. has a fifty-two week low of $2.32 and a fifty-two week high of $6.05. The stock’s 50-day moving average is $3.91 and its two-hundred day moving average is $3.75. The firm has a market cap of $918.95 million, a P/E ratio of -5.33 and a beta of 2.73.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. Analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of indie Semiconductor

Hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. boosted its stake 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 period. Evergreen Capital Management LLC bought a new stake in indie Semiconductor during the 2nd quarter valued at approximately $37,000. Principal Financial Group Inc. bought a new stake in indie Semiconductor during the 1st quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd boosted its stake 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 period. Finally, Jump Financial LLC bought a new stake in indie Semiconductor during the 2nd quarter valued at approximately $39,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on INDI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. UBS Group increased their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a report 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.92.

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.