Insider Selling: indie Semiconductor (NASDAQ:INDI) COO Sells 15,313 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 15,313 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $3.67, for a total value of $56,198.71. Following the completion of the sale, the chief operating officer directly owned 111,385 shares of the company’s stock, valued at $408,782.95. The trade was a 12.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, December 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The shares were sold at an average price of $3.74, for a total transaction of $140,250.00.

indie Semiconductor Stock Performance

NASDAQ INDI traded up $0.34 during trading on Tuesday, reaching $4.00. The company’s stock had a trading volume of 3,633,305 shares, compared to its average volume of 3,035,014. The business’s fifty day moving average price is $4.07 and its 200-day moving average price is $4.19. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $6.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.18 and a current ratio of 3.75. The firm has a market cap of $878.52 million, a price-to-earnings ratio of -5.33 and a beta of 2.54.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). indie Semiconductor had a negative return on equity of 28.84% and a negative net margin of 66.84%.The company had revenue of $53.68 million for the quarter, compared to analysts’ expectations of $53.98 million. During the same period in the prior year, the business earned ($0.09) EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on INDI shares. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Roth Capital reaffirmed a “buy” rating and set a $8.00 price objective on shares of indie Semiconductor in a report on Wednesday, October 15th. UBS Group raised their target price on indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.60.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently bought and sold shares of INDI. Primecap Management Co. CA lifted its position in shares of indie Semiconductor by 1.9% in the second quarter. Primecap Management Co. CA now owns 29,160,176 shares of the company’s stock valued at $103,810,000 after acquiring an additional 536,790 shares in the last quarter. Bamco Inc. NY raised its stake in indie Semiconductor by 23.5% in the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after purchasing an additional 4,813,397 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in indie Semiconductor by 29.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock valued at $63,940,000 after purchasing an additional 4,139,349 shares during the last quarter. Vanguard Group Inc. lifted its holdings in indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after purchasing an additional 1,334,145 shares in the last quarter. Finally, Elemental Capital Partners LLC acquired a new stake in shares of indie Semiconductor during the 3rd quarter worth about $30,979,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.