Key Points
- COO Michael Wittmann sold 17,045 indie Semiconductor shares at an average price of $3.72, generating $63,407.40 and reducing his holdings by 13.13% to 112,797 shares. He has also made four additional sales since June.
- Indie Semiconductor reported quarterly revenue of $64.01 million, up 24% year over year and above estimates, while matching the expected loss of $0.05 per share. The company continues to post negative profitability metrics, including a net margin of -65.18%.
- The stock opened at $3.55, with analysts maintaining a consensus “Hold” rating and an average price target of $4.75. Institutional investors and hedge funds own 67.73% of the shares.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) insider Thomas Schiller sold 3,138 shares of indie Semiconductor stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $3.72, for a total value of $11,673.36. Following the completion of the transaction, the insider directly owned 487,167 shares in the company, valued at $1,812,261.24. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Thomas Schiller also recently made the following trade(s):
- On Thursday, July 2nd, Thomas Schiller sold 1,833 shares of indie Semiconductor stock. The stock was sold at an average price of $4.45, for a total transaction of $8,156.85.
indie Semiconductor Trading Down 4.3%
NASDAQ:INDI opened at $3.55 on Wednesday. The firm has a market capitalization of $822.93 million, a P/E ratio of -4.86 and a beta of 2.78. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average of $3.91 and a 200 day moving average of $3.75. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The business had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. During the same quarter last year, the firm earned ($0.08) EPS. The company's revenue was up 24.0% on a year-over-year basis. On average, research analysts predict that indie Semiconductor, Inc. will post -0.53 earnings per share for the current year.
Hedge Funds Weigh In On indie Semiconductor
Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in indie Semiconductor by 486.9% in the second quarter. California State Teachers Retirement System now owns 1,071,494 shares of the company's stock worth $4,811,000 after buying an additional 888,933 shares during the period. Teza Capital Management LLC bought a new position in shares of indie Semiconductor in the 2nd quarter worth approximately $436,000. Madison Asset Management LLC bought a new position in shares of indie Semiconductor in the 2nd quarter worth approximately $2,310,000. FNY Investment Advisers LLC purchased a new position in shares of indie Semiconductor in the 2nd quarter valued at approximately $449,000. Finally, Moody National Bank Trust Division lifted its stake in shares of indie Semiconductor by 5.3% in the 2nd quarter. Moody National Bank Trust Division now owns 997,024 shares of the company's stock valued at $4,477,000 after purchasing an additional 50,364 shares during the period. 67.73% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a report on Friday, July 17th. TD Cowen increased their price objective on indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a report on Monday, July 13th. Roth Capital set a $5.00 price objective on indie Semiconductor in a research report on Friday, August 7th. Wall Street Zen raised indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, UBS Group upped their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a "neutral" rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, indie Semiconductor has an average rating of "Hold" and a consensus price target of $4.75.
Check Out Our Latest Stock Report on indie Semiconductor
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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