Key Points
- indie Semiconductor COO Michael Wittmann sold 6,250 shares on July 6 at an average price of $4.67, worth about $29,188. After the sale, he still held 139,352 shares, and the transaction cut his position by 4.29%.
- Wittmann has been actively selling shares recently, including larger sales earlier in July and June. The article cites sales of 30,207 shares, 39,645 shares, and 37,500 shares in separate transactions.
- INDI shares were up 6.1% and trading around $4.37, with the stock sitting above its 50-day and 200-day moving averages. Analysts currently rate the stock a consensus Hold with a $5.58 average price target.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 6,250 shares of the business's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $4.67, for a total value of $29,187.50. Following the transaction, the chief operating officer directly owned 139,352 shares in the company, valued at approximately $650,773.84. This trade represents a 4.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Michael Wittmann also recently made the following trade(s):
- On Thursday, July 2nd, Michael Wittmann sold 30,207 shares of indie Semiconductor stock. The shares were sold at an average price of $4.45, for a total value of $134,421.15.
- On Thursday, June 4th, Michael Wittmann sold 39,645 shares of indie Semiconductor stock. The shares were sold at an average price of $4.80, for a total value of $190,296.00.
- On Tuesday, June 2nd, Michael Wittmann sold 37,500 shares of indie Semiconductor stock. The stock was sold at an average price of $5.13, for a total transaction of $192,375.00.
indie Semiconductor Trading Up 6.1%
Shares of INDI stock opened at $4.37 on Thursday. The firm has a 50 day moving average price of $4.33 and a two-hundred day moving average price of $3.78. The company has a market capitalization of $991.55 million, a PE ratio of -5.75 and a beta of 2.75. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting analysts' consensus estimates of ($0.06). The firm had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have issued reports on INDI. TD Cowen assumed coverage on shares of indie Semiconductor in a research note on Wednesday, June 10th. They set a "hold" rating and a $4.00 price objective on the stock. UBS Group boosted their price objective on indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $5.58.
Check Out Our Latest Report on INDI
Institutional Investors Weigh In On indie Semiconductor
Hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new stake in indie Semiconductor in the 3rd quarter valued at $22,385,000. Elemental Capital Partners LLC grew its holdings in shares of indie Semiconductor by 60.0% in the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company's stock valued at $40,715,000 after acquiring an additional 4,741,680 shares in the last quarter. Granahan Investment Management LLC increased its position in shares of indie Semiconductor by 17.8% during the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company's stock valued at $65,314,000 after purchasing an additional 3,067,255 shares during the last quarter. Millennium Management LLC increased its holdings in indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock worth $7,535,000 after buying an additional 3,037,435 shares during the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of indie Semiconductor by 130.0% in the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company's stock worth $12,272,000 after purchasing an additional 2,154,279 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.
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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