Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) COO Sells 10,875 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 10,875 shares of indie Semiconductor stock in a transaction on Monday, March 10th. The stock was sold at an average price of $2.81, for a total value of $30,558.75. Following the sale, the chief operating officer now directly owns 77,887 shares of the company’s stock, valued at approximately $218,862.47. This trade represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Michael Wittmann also recently made the following trade(s):

• On Friday, March 7th, Michael Wittmann sold 13,570 shares of indie Semiconductor stock. The stock was sold at an average price of $2.90, for a total value of $39,353.00.
• On Monday, January 6th, Michael Wittmann sold 2,012 shares of indie Semiconductor stock. The shares were sold at an average price of $4.71, for a total transaction of $9,476.52.
• On Thursday, January 2nd, Michael Wittmann sold 3,125 shares of indie Semiconductor stock. The shares were sold at an average price of $4.17, for a total transaction of $13,031.25.
• On Monday, December 23rd, Michael Wittmann sold 18,375 shares of indie Semiconductor stock. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50.

indie Semiconductor Stock Down 6.5 %

Shares of INDI stock traded down $0.19 during trading on Monday, reaching $2.74. The company’s stock had a trading volume of 3,668,021 shares, compared to its average volume of 4,165,887. The business has a fifty day moving average price of $3.89 and a 200-day moving average price of $3.99. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market cap of $553.25 million, a price-to-earnings ratio of -3.61 and a beta of 1.54. indie Semiconductor, Inc. has a one year low of $2.43 and a one year high of $7.82.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $58.01 million during the quarter, compared to the consensus estimate of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. Analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on INDI shares. KeyCorp dropped their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Benchmark dropped their price objective on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, UBS Group started coverage on shares of indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.50.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently made changes to their positions in the stock. Primecap Management Co. CA boosted its holdings in shares of indie Semiconductor by 3.2% in the 4th quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company’s stock valued at $106,465,000 after buying an additional 819,321 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of indie Semiconductor by 30.6% in the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company’s stock valued at $80,602,000 after buying an additional 4,661,220 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of indie Semiconductor by 60.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company’s stock valued at $70,366,000 after buying an additional 6,517,978 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of indie Semiconductor by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company’s stock valued at $50,970,000 after buying an additional 942,088 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of indie Semiconductor by 2.3% in the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after buying an additional 161,132 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.