Michael Wittmann Sells 18,750 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 18,750 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $2.54, for a total transaction of $47,625.00. Following the completion of the transaction, the chief operating officer owned 130,135 shares in the company, valued at approximately $330,542.90. This trade represents a 12.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, March 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The shares were sold at an average price of $3.50, for a total transaction of $131,250.00.
• On Monday, January 5th, Michael Wittmann sold 15,313 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total transaction of $56,198.71.

indie Semiconductor Trading Down 0.8%

Shares of indie Semiconductor stock opened at $2.59 on Thursday. The stock has a market cap of $568.85 million, a PE ratio of -3.55 and a beta of 2.55. The firm has a fifty day moving average price of $3.75 and a 200 day moving average price of $4.11. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $6.05. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly 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 return on equity of 29.33% and a negative net margin of 66.23%.The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. Equities research analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. HBK Sorce Advisory LLC purchased a new stake in shares of indie Semiconductor in the third quarter valued at approximately $41,000. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor during the 2nd quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd raised its position in shares of 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 valued at $39,000 after buying an additional 10,999 shares during the period. Jump Financial LLC purchased a new stake in indie Semiconductor in the second quarter valued at $39,000. Finally, Gainplan LLC acquired a new position in shares of indie Semiconductor in the 4th quarter valued at $39,000. 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.