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

Key Points

• COO Michael Wittmann sold 18,750 shares on March 9 at an average price of $2.54 for $47,625, leaving him with 130,135 shares (a 12.59% reduction); he also sold 37,500 shares on March 2 and 15,313 shares on Jan 5, indicating repeated insider selling.
• Stock and financial backdrop: INDI trades around $2.61 (52‑week range $1.53–$6.05), reported EPS of ($0.07) that met estimates with a negative net margin of 66.23%, and carries a consensus analyst target of $6.45 amid 67.73% institutional ownership.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 18,750 shares of indie Semiconductor stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $2.54, for a total value of $47,625.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, March 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The stock was sold at an average price of $3.50, for a total value of $131,250.00.
• 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.

indie Semiconductor Stock Performance

Shares of NASDAQ INDI traded up $0.02 during trading on Tuesday, hitting $2.61. 5,039,861 shares of the company were exchanged, compared to its average volume of 6,196,567. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $6.05. The firm's fifty day moving average price is $3.79 and its 200 day moving average price is $4.13. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The business had revenue of $58.01 million during the quarter, compared to the consensus estimate of $57.11 million. During the same quarter last year, the firm posted ($0.07) EPS. The business's revenue was up .0% compared to the same quarter last year. As a group, analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on INDI shares. Wall Street Zen downgraded shares of indie Semiconductor from a "hold" rating to a "sell" rating in a research report on Saturday, December 13th. UBS Group set a $4.25 price target on indie Semiconductor in a report on Sunday, February 22nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $6.45.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds have recently added to or reduced their stakes in INDI. Elemental Capital Partners LLC purchased a new stake in indie Semiconductor in the 3rd quarter worth approximately $30,979,000. Tudor Investment Corp ET AL acquired a new position in indie Semiconductor in the 3rd quarter valued at $22,385,000. Bamco Inc. NY lifted its stake in shares of indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company's stock worth $90,049,000 after purchasing an additional 4,813,397 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in shares of indie Semiconductor by 29.9% during the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company's stock worth $63,940,000 after purchasing an additional 4,139,349 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of indie Semiconductor by 456.6% in the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock valued at $7,535,000 after purchasing an additional 3,037,435 shares during the period. 67.73% of the stock is currently owned by hedge funds and other 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.

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