indie Semiconductor (NASDAQ:INDI) COO Sells $29,187.50 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $4.67, for a total value of $29,187.50. Following the transaction, the chief operating officer owned 139,352 shares of the company’s stock, valued at approximately $650,773.84. This represents a 4.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, July 2nd, Michael Wittmann sold 30,207 shares of indie Semiconductor stock. The stock was sold at an average price of $4.45, for a total value of $134,421.15.
• 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 stock was sold at an average price of $5.13, for a total value of $192,375.00.

indie Semiconductor Trading Down 5.7%

Shares of NASDAQ INDI opened at $4.44 on Friday. The firm’s 50 day moving average price is $4.36 and its 200-day moving average price is $3.80. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. The company has a market cap of $1.01 billion, a PE ratio of -5.84 and a beta of 2.75.

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

Institutional Trading of indie Semiconductor

Several hedge funds have recently modified their holdings of INDI. ArrowMark Colorado Holdings LLC bought a new stake in indie Semiconductor during the third quarter worth approximately $3,931,000. Tudor Investment Corp ET AL bought a new position in indie Semiconductor during the third quarter valued at $22,385,000. Wasatch Advisors LP grew its holdings in indie Semiconductor by 130.0% during the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after purchasing an additional 2,154,279 shares during the last quarter. General American Investors Co. Inc. boosted its position in shares of indie Semiconductor by 14.7% during the fourth quarter. General American Investors Co. Inc. now owns 1,954,849 shares of the company’s stock valued at $6,901,000 after buying an additional 250,000 shares during the period. Finally, Elemental Capital Partners LLC raised its holdings in shares of indie Semiconductor by 3.8% in the fourth quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock worth $27,897,000 after buying an additional 291,111 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on INDI shares. TD Cowen initiated coverage on shares of indie Semiconductor in a research report on Wednesday, June 10th. They set a “hold” rating and a $4.00 price objective for the company. UBS Group increased their price objective 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 restated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.58.

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.