indie Semiconductor (NASDAQ:INDI) COO Michael Wittmann Sells 4,720 Shares

Key Points

• COO Michael Wittmann sold 4,720 shares on April 6 at $2.99 each (about $14,112.80), leaving him with 137,954 shares — a 3.31% reduction in his ownership.
• Wittmann also sold larger blocks recently (37,500 shares on March 2 at $3.50 and 18,750 shares on March 9 at $2.54), indicating continued insider selling over the past month.
• INDI shares traded at $2.89 (down 1.7%) with a market cap of roughly $646M; the company reported Q4 EPS of -$0.07 (in line with estimates) on $58.01M revenue, and analysts hold an average "Moderate Buy" rating with a $6.45 price target.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 4,720 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $2.99, for a total transaction of $14,112.80. Following the sale, the chief operating officer owned 137,954 shares in the company, valued at $412,482.46. This trade represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, March 9th, Michael Wittmann sold 18,750 shares of indie Semiconductor stock. The stock was sold at an average price of $2.54, for a total transaction of $47,625.00.
• 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 transaction of $131,250.00.

indie Semiconductor Stock Down 1.7%

INDI stock traded down $0.05 during mid-day trading on Tuesday, hitting $2.89. 2,570,369 shares of the company were exchanged, compared to its average volume of 4,549,985. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. The firm has a market cap of $646.38 million, a P/E ratio of -3.96 and a beta of 2.56. The firm's 50 day simple moving average is $3.28 and its 200 day simple moving average is $3.93. indie Semiconductor, Inc. has a 1-year low of $1.60 and a 1-year high of $6.05.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. On average, sell-side analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA grew its stake in shares of indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company's stock valued at $105,105,000 after buying an additional 873,940 shares in the last quarter. Bamco Inc. NY grew its stake in shares of 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 buying an additional 4,813,397 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of indie Semiconductor by 29.9% in the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company's stock valued at $63,940,000 after buying an additional 4,139,349 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of indie Semiconductor by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company's stock valued at $54,693,000 after buying an additional 210,463 shares in the last quarter. Finally, Elemental Capital Partners LLC grew its stake in shares of indie Semiconductor by 3.8% in the fourth quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company's stock valued at $27,897,000 after buying an additional 291,111 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a report on Thursday, January 22nd. UBS Group set a $4.25 price objective on shares of indie Semiconductor in a report on Sunday, February 22nd. Finally, Wall Street Zen downgraded shares of indie Semiconductor from a "hold" rating to a "sell" rating in a report on Saturday, December 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $6.45.

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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