Michael Wittmann Sells 59,375 Shares of indie Semiconductor (NASDAQ:INDI) Stock

Key Points

• Michael Wittmann, COO of indie Semiconductor, sold 59,375 shares at an average price of $4.29, totaling $254,718.75, which represents a 38.71% decrease in his ownership of the company's stock.
• indie Semiconductor reported earnings of ($0.08) EPS for the last quarter, meeting consensus estimates, with a negative net margin of 71.98%.
• Several analysts have downgraded the target price for indie Semiconductor, with KeyCorp and Craig Hallum both reducing their targets from $7.00 to $6.00.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 59,375 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $4.29, for a total transaction of $254,718.75. Following the transaction, the chief operating officer owned 94,005 shares of the company's stock, valued at $403,281.45. This trade represents a 38.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, July 2nd, Michael Wittmann sold 4,532 shares of indie Semiconductor stock. The stock was sold at an average price of $3.64, for a total transaction of $16,496.48.

indie Semiconductor Trading Down 1.1%

INDI stock traded down $0.05 during trading on Wednesday, hitting $4.31. The company had a trading volume of 2,022,008 shares, compared to its average volume of 3,891,609. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $5.57. The company has a quick ratio of 3.72, a current ratio of 4.34 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $931.69 million, a P/E ratio of -5.13 and a beta of 2.31. The company has a 50 day simple moving average of $4.15 and a 200-day simple moving average of $3.11.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). indie Semiconductor had a negative net margin of 71.98% and a negative return on equity of 28.43%. The business had revenue of $51.63 million during the quarter, compared to analyst estimates of $51.40 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The company's quarterly revenue was down 1.5% compared to the same quarter last year. indie Semiconductor has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently modified their holdings of the business. ProShare Advisors LLC grew its holdings in shares of indie Semiconductor by 9.0% during the second quarter. ProShare Advisors LLC now owns 39,775 shares of the company's stock worth $142,000 after buying an additional 3,300 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of indie Semiconductor by 9.3% during the second quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company's stock worth $162,000 after buying an additional 3,898 shares in the last quarter. CWM LLC grew its holdings in shares of indie Semiconductor by 34.7% in the second quarter. CWM LLC now owns 15,215 shares of the company's stock valued at $54,000 after purchasing an additional 3,916 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of indie Semiconductor by 27.0% in the second quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company's stock valued at $71,000 after purchasing an additional 4,207 shares during the period. Finally, National Bank of Canada FI lifted its position in indie Semiconductor by 32.7% in the first quarter. National Bank of Canada FI now owns 17,852 shares of the company's stock valued at $36,000 after buying an additional 4,400 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on INDI shares. KeyCorp dropped their target price on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Craig Hallum decreased their target price on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Benchmark reiterated a "buy" rating and issued a $8.00 target price (up from $6.00) on shares of indie Semiconductor in a research note on Wednesday, June 25th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, indie Semiconductor currently has an average rating of "Moderate Buy" and an average target price of $5.90.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.

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