Key Points
- COO Michael Wittmann sold 42,468 indie Semiconductor shares at an average price of $4.10, generating $174,118.80. His remaining stake fell 30.48% to 96,884 shares.
- Indie Semiconductor reported quarterly revenue of $64.01 million, up 24% year over year and above analyst estimates, while meeting expectations with an adjusted loss of $0.05 per share.
- The stock has an average analyst rating of Hold and a consensus price target of $4.75; institutional investors own 67.73% of the company.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 42,468 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $4.10, for a total transaction of $174,118.80. Following the completion of the transaction, the chief operating officer owned 96,884 shares in the company, valued at approximately $397,224.40. This represents a 30.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Michael Wittmann also recently made the following trade(s):
- On Monday, July 6th, Michael Wittmann sold 6,250 shares of indie Semiconductor stock. The shares were sold at an average price of $4.67, for a total transaction of $29,187.50.
- 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 stock was 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 value of $192,375.00.
indie Semiconductor Trading Down 7.9%
Shares of NASDAQ INDI opened at $4.34 on Wednesday. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $1.01 billion, a PE ratio of -5.95 and a beta of 2.79. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The stock has a fifty day simple moving average of $3.93 and a 200-day simple moving average of $3.75.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The firm had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. During the same quarter in the prior year, the company earned ($0.08) EPS. indie Semiconductor's revenue was up 24.0% on a year-over-year basis. On average, equities analysts forecast that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.
Hedge Funds Weigh In On indie Semiconductor
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its holdings in indie Semiconductor by 32.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company's stock valued at $66,000 after acquiring an additional 3,921 shares in the last quarter. Cetera Investment Advisers grew its holdings in indie Semiconductor by 20.5% during the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company's stock worth $91,000 after acquiring an additional 4,365 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in indie Semiconductor by 33.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company's stock worth $68,000 after acquiring an additional 4,763 shares in the last quarter. Abel Hall LLC grew its holdings in indie Semiconductor by 42.3% during the 4th quarter. Abel Hall LLC now owns 16,934 shares of the company's stock worth $60,000 after acquiring an additional 5,030 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in shares of indie Semiconductor by 1.9% in the 4th quarter. Verition Fund Management LLC now owns 268,590 shares of the company's stock valued at $948,000 after purchasing an additional 5,055 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Wall Street Zen raised shares of indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. UBS Group upped their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Roth Capital set a $5.00 target price on shares of indie Semiconductor in a report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research report on Friday, July 17th. Finally, TD Cowen boosted their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, indie Semiconductor presently has an average rating of "Hold" and a consensus price target of $4.75.
Check Out Our Latest Research Report on INDI
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
