Michael Wittmann Sells 42,468 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 42,468 shares of indie Semiconductor stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $4.10, for a total value of $174,118.80. Following the completion of the transaction, the chief operating officer directly owned 96,884 shares in the company, valued at $397,224.40. This represents a 30.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, July 6th, Michael Wittmann sold 6,250 shares of indie Semiconductor stock. The stock was sold at an average price of $4.67, for a total transaction of $29,187.50.
• On Thursday, July 2nd, Michael Wittmann sold 30,207 shares of indie Semiconductor stock. The shares were sold at an average price of $4.45, for a total transaction of $134,421.15.
• On Thursday, June 4th, Michael Wittmann sold 39,645 shares of indie Semiconductor stock. The shares were sold at an average price of $4.80, for a total transaction of $190,296.00.
• On Tuesday, June 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The shares were sold at an average price of $5.13, for a total transaction of $192,375.00.

indie Semiconductor Stock Down 7.9%

NASDAQ:INDI traded down $0.37 during mid-day trading on Tuesday, hitting $4.34. The company had a trading volume of 11,554,631 shares, compared to its average volume of 6,380,276. The business has a fifty day simple moving average of $3.93 and a 200-day simple moving average of $3.75. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 year high of $6.05. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -5.95 and a beta of 2.79.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $64.01 million during the quarter, compared to analyst estimates of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) earnings per share. Equities analysts forecast that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on INDI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Friday, July 17th. TD Cowen raised their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a research report on Monday, July 13th. UBS Group upped their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Roth Capital set a $5.00 price target on indie Semiconductor in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.75.

Institutional Trading of indie Semiconductor

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of indie Semiconductor by 19.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,873,776 shares of the company’s stock worth $6,033,000 after buying an additional 308,620 shares during the last quarter. Wasatch Advisors LP increased its position in indie Semiconductor by 130.0% during the first quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock worth $12,272,000 after acquiring an additional 2,154,279 shares during the period. General American Investors Co. Inc. raised its stake in indie Semiconductor by 14.7% during the 4th quarter. General American Investors Co. Inc. now owns 1,954,849 shares of the company’s stock valued at $6,901,000 after purchasing an additional 250,000 shares during the last quarter. Elemental Capital Partners LLC boosted its holdings in indie Semiconductor by 60.0% in the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock valued at $40,715,000 after purchasing an additional 4,741,680 shares during the period. Finally, Granahan Investment Management LLC boosted its holdings in indie Semiconductor by 17.8% in the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock valued at $65,314,000 after purchasing an additional 3,067,255 shares during the period. Institutional investors 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.