Key Points
- COO Michael Wittmann sold 18,750 shares of indie Semiconductor on March 9 at an average price of $2.54 (proceeds $47,625), reducing his stake by 12.59% to 130,135 shares; he also sold 37,500 shares on March 2 and 15,313 shares on Jan 5 in earlier transactions.
- indie Semiconductor reported ($0.07) EPS for the quarter with revenue of $58.01 million and a negative net margin (66.23%) and ROE (-29.33%). The company has a market cap of about $573 million and a consensus analyst rating of "Moderate Buy" with an average target price of $6.45.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 18,750 shares of the business's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $2.54, for a total transaction of $47,625.00. Following the sale, the chief operating officer directly owned 130,135 shares of the company's stock, valued at approximately $330,542.90. This represents a 12.59% decrease in their position. The sale was disclosed in a legal 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 transaction 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 Up 0.8%
NASDAQ:INDI opened at $2.61 on Wednesday. The firm has a market capitalization of $573.23 million, a PE ratio of -3.58 and a beta of 2.55. The stock has a 50 day moving average of $3.77 and a 200-day moving average of $4.12. indie Semiconductor, Inc. has a 52 week low of $1.53 and a 52 week high of $6.05. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88.
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, hitting the consensus estimate of ($0.07). indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The business had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. During the same quarter last year, the business posted ($0.07) EPS. The business's revenue was up .0% on a year-over-year basis. Analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. UBS Group set a $4.25 price target on shares of indie Semiconductor in a report on Sunday, February 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of indie Semiconductor from a "hold" rating to a "sell" rating in a research report on Saturday, December 13th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $6.45.
Get Our Latest Report on INDI
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC raised its holdings in 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 purchasing an additional 3,300 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in indie Semiconductor by 9.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company's stock valued at $162,000 after purchasing an additional 3,898 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of indie Semiconductor by 32.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company's stock valued at $66,000 after purchasing an additional 3,921 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of indie Semiconductor by 27.0% during the 2nd 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, Cetera Investment Advisers raised its stake in shares of indie Semiconductor by 20.5% in the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company's stock worth $91,000 after buying an additional 4,365 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
indie Semiconductor Company Profile
(
Get Free Report)
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.
Further Reading
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