indie Semiconductor (NASDAQ:INDI) COO Sells $63,407.40 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 17,045 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $3.72, for a total transaction of $63,407.40. Following the completion of the transaction, the chief operating officer directly owned 112,797 shares of the company’s stock, valued at $419,604.84. This trade represents a 13.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, September 2nd, Michael Wittmann sold 40,625 shares of indie Semiconductor stock. The shares were sold at an average price of $3.59, for a total value of $145,843.75.
• On Friday, August 14th, Michael Wittmann sold 42,468 shares of indie Semiconductor stock. The shares were sold at an average price of $4.10, for a total value of $174,118.80.
• On Monday, July 6th, Michael Wittmann sold 6,250 shares of indie Semiconductor stock. The shares were sold at an average price of $4.67, for a total value of $29,187.50.
• 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 value of $190,296.00.

indie Semiconductor Price Performance

Shares of INDI stock opened at $3.47 on Friday. The stock’s 50-day moving average is $3.90 and its 200 day moving average is $3.74. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. The company has a market cap of $804.38 million, a P/E ratio of -4.75 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $64.01 million during the quarter, compared to the consensus estimate of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The firm’s revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share. Research analysts predict that indie Semiconductor, Inc. will post -0.53 earnings per share for the current fiscal year.

indie Semiconductor News Summary

Here are the key news stories impacting indie Semiconductor this week:

• Positive Sentiment: Institutional ownership remains substantial at approximately 67.7%. California State Teachers’ Retirement System significantly increased its position during the second quarter, while several other investment firms initiated or expanded holdings, signaling continued institutional interest in indie’s automotive semiconductor business.
• Positive Sentiment: Analysts’ average price target is $4.75, above the recent trading range. TD Cowen, Roth Capital and UBS have set targets between $4.50 and $5.00, though ratings are generally Hold or Neutral rather than outright Buy.
• Positive Sentiment: The company’s latest quarterly revenue increased 24% year over year to $64.01 million, exceeding estimates of $62.49 million. Its quarterly loss of $0.05 per share matched consensus and improved from a $0.08 loss in the prior-year period.
• Neutral Sentiment: indie Semiconductor develops chips for electric vehicles, advanced driver-assistance systems, infotainment and digital instrument clusters. The long-term automotive technology opportunity remains attractive, but the company continues to report substantial losses, with analysts forecasting a full-year loss of approximately $0.53 per share.
• Negative Sentiment: Several senior executives sold shares in transactions dated September 1–2. CEO Donald McClymont sold 13,384 shares for about $47,246, CFO Naixi Wu sold a combined 27,171 shares for roughly $96,305, and COO Michael Wittmann sold 40,625 shares for approximately $145,844. These sales reduced their respective holdings by about 2.7%, 16.0% combined for the CFO’s reported transactions, and 26.0%.
• Negative Sentiment: Insider Thomas Schiller also sold 3,138 shares for approximately $11,673. The concentration of selling among multiple insiders can weigh on investor confidence, particularly while INDI remains unprofitable and trades below its 50-day moving average.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. raised its position in shares of indie Semiconductor by 7,163.7% in 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 last quarter. Evergreen Capital Management LLC acquired a new stake in indie Semiconductor in the 2nd quarter worth approximately $37,000. Principal Financial Group Inc. purchased a new stake in indie Semiconductor during the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd grew its position 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 worth $39,000 after purchasing an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in indie Semiconductor during the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on INDI. UBS Group increased their target price 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. Roth Capital set a $5.00 price target on shares of indie Semiconductor in a report on Friday, August 7th. TD Cowen lifted their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.75.

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.