indie Semiconductor, Inc. (NASDAQ:INDI) COO Sells $75,337.50 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 18,375 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $4.10, for a total value of $75,337.50. Following the completion of the sale, the chief operating officer now owns 28,860 shares in the company, valued at $118,326. This represents a 38.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

indie Semiconductor Stock Up 4.2 %

NASDAQ:INDI traded up $0.18 during midday trading on Thursday, reaching $4.42. The company had a trading volume of 2,391,815 shares, compared to its average volume of 3,258,838. The firm has a market capitalization of $892.47 million, a price-to-earnings ratio of -6.60 and a beta of 1.37. The stock’s fifty day simple moving average is $4.21 and its 200-day simple moving average is $4.73. indie Semiconductor, Inc. has a 12-month low of $3.16 and a 12-month high of $8.62. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently modified their holdings of the stock. Primecap Management Co. CA lifted its position in shares of indie Semiconductor by 61.4% during the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after acquiring an additional 9,689,326 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of indie Semiconductor by 290.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after purchasing an additional 2,377,612 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in indie Semiconductor in the 3rd quarter worth approximately $4,478,000. Harber Asset Management LLC purchased a new stake in indie Semiconductor in the third quarter valued at approximately $3,406,000. Finally, General American Investors Co. Inc. grew its position in indie Semiconductor by 46.5% during the third quarter. General American Investors Co. Inc. now owns 1,347,393 shares of the company’s stock valued at $5,376,000 after acquiring an additional 427,928 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on INDI shares. Roth Mkm lowered their price objective on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Benchmark decreased their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, indie Semiconductor currently has an average rating of “Buy” and a consensus price target of $8.92.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.