indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 30,207 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 30,207 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $4.45, for a total transaction of $134,421.15. Following the completion of the transaction, the chief operating officer owned 145,602 shares of the company’s stock, valued at approximately $647,928.90. This represents a 17.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction of $190,296.00.
• On Tuesday, June 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The shares were sold at an average price of $5.13, for a total transaction of $192,375.00.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $4.36 on Tuesday. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $988.38 million, a PE ratio of -5.73 and a beta of 2.75. The firm has a 50-day moving average price of $4.31 and a 200 day moving average price of $3.78.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $55.46 million during the quarter, compared to analysts’ expectations of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. Research analysts anticipate that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. lifted 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 worth $26,000 after buying an additional 8,095 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in indie Semiconductor in the 1st quarter valued at about $35,000. Evergreen Capital Management LLC acquired a new stake in indie Semiconductor in the 2nd quarter valued at about $37,000. Gainplan LLC bought a new position in shares of indie Semiconductor in the fourth quarter worth about $39,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of indie Semiconductor by 45,829.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after acquiring an additional 10,999 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen began coverage on shares of indie Semiconductor in a research report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, UBS Group boosted their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.58.

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.