indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 37,500 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 37,500 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $3.50, for a total value of $131,250.00. Following the completion of the sale, the chief operating officer directly owned 123,885 shares of the company’s stock, valued at $433,597.50. The trade was a 23.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, January 5th, Michael Wittmann sold 15,313 shares of indie Semiconductor stock. The shares were sold at an average price of $3.67, for a total value of $56,198.71.
• On Tuesday, December 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.74, for a total value of $140,250.00.

indie Semiconductor Stock Performance

INDI opened at $3.40 on Tuesday. The company has a market cap of $746.75 million, a P/E ratio of -4.66 and a beta of 2.53. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $3.89 and its 200-day moving average price is $4.19. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 28.81%. indie Semiconductor’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. As a group, equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INDI shares. UBS Group set a $4.25 price target on indie Semiconductor in a research note on Sunday, February 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.45.

Hedge Funds Weigh In On indie Semiconductor

Large investors have recently bought and sold shares of the business. ProShare Advisors LLC lifted its stake in shares of indie Semiconductor by 9.0% in the second quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock worth $142,000 after buying an additional 3,300 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in indie Semiconductor by 9.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock valued at $162,000 after acquiring an additional 3,898 shares in the last quarter. CWM LLC raised its holdings in indie Semiconductor by 34.7% in the 2nd quarter. CWM LLC now owns 15,215 shares of the company’s stock valued at $54,000 after acquiring an additional 3,916 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in indie Semiconductor by 32.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock valued at $66,000 after acquiring an additional 3,921 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in indie Semiconductor by 27.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock worth $71,000 after purchasing an additional 4,207 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.