Key Points
- indie Semiconductor COO Michael Wittmann sold 39,645 shares on June 4 at an average price of $4.80, worth about $190,296. After the sale, he still held 98,309 shares, reducing his ownership by 28.74%.
- Wittmann has been actively selling shares recently, including 37,500 shares on June 2, 4,720 shares on April 6, and 18,750 shares on March 9, according to the filing history.
- The company’s latest earnings were mixed but in line with expectations: Q1 EPS matched estimates at -$0.06 and revenue came in slightly above forecast at $55.46 million, while analysts currently rate the stock a consensus “Hold.”
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 39,645 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $4.80, for a total value of $190,296.00. Following the completion of the transaction, the chief operating officer owned 98,309 shares of the company's stock, valued at $471,883.20. The trade was a 28.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Michael Wittmann also recently made the following trade(s):
- 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 value of $192,375.00.
- On Monday, April 6th, Michael Wittmann sold 4,720 shares of indie Semiconductor stock. The shares were sold at an average price of $2.99, for a total value of $14,112.80.
- On Monday, March 9th, Michael Wittmann sold 18,750 shares of indie Semiconductor stock. The shares were sold at an average price of $2.54, for a total value of $47,625.00.
indie Semiconductor Stock Performance
Shares of NASDAQ INDI opened at $4.05 on Friday. The business has a fifty day simple moving average of $3.91 and a 200 day simple moving average of $3.75. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $918.95 million, a price-to-earnings ratio of -5.33 and a beta of 2.73. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.indie Semiconductor's revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. Sell-side analysts expect that indie Semiconductor, Inc. will post -0.52 EPS for the current year.
Hedge Funds Weigh In On indie Semiconductor
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. raised its position in indie Semiconductor by 7,163.7% in the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company's stock valued at $26,000 after purchasing an additional 8,095 shares during the last quarter. Principal Financial Group Inc. bought a new position in indie Semiconductor in the 1st quarter valued at $35,000. Evergreen Capital Management LLC bought a new position in indie Semiconductor in the 2nd quarter valued at $37,000. Gainplan LLC bought a new position in indie Semiconductor in the 4th quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd raised its position in indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company's stock valued at $39,000 after purchasing an additional 10,999 shares during the last quarter. Institutional investors own 67.73% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Wall Street Zen upgraded indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Finally, UBS Group raised their target price on indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.92.
Check Out Our Latest Research Report on INDI
About indie Semiconductor
(
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.
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