indie Semiconductor, Inc. (NASDAQ:INDI – Get Free Report) COO Michael Wittmann sold 40,625 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $3.59, for a total value of $145,843.75. Following the completion of the transaction, the chief operating officer directly owned 115,922 shares of the company’s stock, valued at $416,159.98. The trade was a 25.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Michael Wittmann also recently made the following trade(s):
- On Monday, August 31st, Michael Wittmann sold 17,045 shares of indie Semiconductor stock. The stock was sold at an average price of $3.72, for a total value of $63,407.40.
- On Friday, August 14th, Michael Wittmann sold 42,468 shares of indie Semiconductor stock. The shares were sold at an average price of $4.10, for a total value of $174,118.80.
- 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 stock was sold at an average price of $4.45, for a total transaction of $134,421.15.
indie Semiconductor Stock Performance
Shares of NASDAQ INDI opened at $3.47 on Friday. The company has a 50-day simple moving average of $3.90 and a 200-day simple moving average of $3.74. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. The company has a market cap of $804.38 million, a PE ratio of -4.75 and a beta of 2.78. indie Semiconductor, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05.
Analysts Set New Price Targets
A number of brokerages have commented on INDI. 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 note on Friday, May 8th. Roth Capital set a $5.00 target price on indie Semiconductor in a report on Friday, August 7th. TD Cowen boosted their price target on indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a research report on Monday, July 13th. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.75.
View Our Latest Research Report on indie Semiconductor
Hedge Funds Weigh In On indie Semiconductor
A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in indie Semiconductor by 486.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,071,494 shares of the company’s stock valued at $4,811,000 after buying an additional 888,933 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of indie Semiconductor during the second quarter worth about $436,000. Madison Asset Management LLC acquired a new position in shares of indie Semiconductor in the second quarter worth about $2,310,000. FNY Investment Advisers LLC acquired a new position in shares of indie Semiconductor in the second quarter worth about $449,000. Finally, Moody National Bank Trust Division lifted its stake in shares of indie Semiconductor by 5.3% in the second quarter. Moody National Bank Trust Division now owns 997,024 shares of the company’s stock worth $4,477,000 after acquiring an additional 50,364 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Key Stories Impacting indie Semiconductor
Here are the key news stories impacting indie Semiconductor this week:
- Positive Sentiment: Institutional ownership remains substantial at approximately 67.7%. California State Teachers’ Retirement System significantly increased its position during the second quarter, while several other investment firms initiated or expanded holdings, signaling continued institutional interest in indie’s automotive semiconductor business.
- Positive Sentiment: Analysts’ average price target is $4.75, above the recent trading range. TD Cowen, Roth Capital and UBS have set targets between $4.50 and $5.00, though ratings are generally Hold or Neutral rather than outright Buy.
- Positive Sentiment: The company’s latest quarterly revenue increased 24% year over year to $64.01 million, exceeding estimates of $62.49 million. Its quarterly loss of $0.05 per share matched consensus and improved from a $0.08 loss in the prior-year period.
- Neutral Sentiment: indie Semiconductor develops chips for electric vehicles, advanced driver-assistance systems, infotainment and digital instrument clusters. The long-term automotive technology opportunity remains attractive, but the company continues to report substantial losses, with analysts forecasting a full-year loss of approximately $0.53 per share.
- Negative Sentiment: Several senior executives sold shares in transactions dated September 1–2. CEO Donald McClymont sold 13,384 shares for about $47,246, CFO Naixi Wu sold a combined 27,171 shares for roughly $96,305, and COO Michael Wittmann sold 40,625 shares for approximately $145,844. These sales reduced their respective holdings by about 2.7%, 16.0% combined for the CFO’s reported transactions, and 26.0%.
- Negative Sentiment: Insider Thomas Schiller also sold 3,138 shares for approximately $11,673. The concentration of selling among multiple insiders can weigh on investor confidence, particularly while INDI remains unprofitable and trades below its 50-day moving average.
About indie Semiconductor
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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