indie Semiconductor (NASDAQ:INDI) COO Sells $56,198.71 in Stock

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

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 value of $140,250.00.

indie Semiconductor Trading Down 4.2%

INDI opened at $3.88 on Friday. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $6.05. The company has a market cap of $852.16 million, a P/E ratio of -5.17 and a beta of 2.54. The company has a fifty day moving average price of $3.98 and a two-hundred day moving average price of $4.19. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86.

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

Wall Street Analyst Weigh In

INDI has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Wednesday, October 8th. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research note 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. Finally, UBS Group increased their target price on shares of indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, November 10th. Five research 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 currently has an average rating of “Moderate Buy” and an average target price of $6.60.

Institutional Investors Weigh In On indie Semiconductor

A number of hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA grew its position in indie Semiconductor by 1.9% during the second quarter. Primecap Management Co. CA now owns 29,160,176 shares of the company’s stock valued at $103,810,000 after buying an additional 536,790 shares during the period. Bamco Inc. NY boosted its stake in indie Semiconductor by 23.5% in the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after acquiring an additional 4,813,397 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of indie Semiconductor by 29.9% during 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 acquiring an additional 4,139,349 shares during the period. Vanguard Group Inc. increased its stake in shares of indie Semiconductor by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock worth $62,203,000 after purchasing an additional 1,334,145 shares during the last quarter. Finally, Elemental Capital Partners LLC bought a new stake in shares of indie Semiconductor in the 3rd quarter worth approximately $30,979,000. 67.73% of the stock is currently owned by institutional investors.

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.