Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) COO Sells 13,570 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 13,570 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $39,353.00. Following the completion of the sale, the chief operating officer now owns 67,012 shares in the company, valued at $194,334.80. This represents a 16.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 10th, Michael Wittmann sold 10,875 shares of indie Semiconductor stock. The stock was sold at an average price of $2.81, for a total value of $30,558.75.
• On Monday, January 6th, Michael Wittmann sold 2,012 shares of indie Semiconductor stock. The stock was sold at an average price of $4.71, for a total value 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 Trading Down 6.5 %

Shares of INDI stock traded down $0.19 during trading hours on Monday, reaching $2.74. 3,668,021 shares of the stock were exchanged, compared to its average volume of 4,165,887. indie Semiconductor, Inc. has a 12-month low of $2.43 and a 12-month high of $7.82. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $3.89 and its 200-day moving average price is $3.99. The firm has a market capitalization of $553.25 million, a price-to-earnings ratio of -3.61 and a beta of 1.54.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The company 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%. As a group, equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Analyst Ratings Changes

INDI has been the subject of a number of analyst reports. Benchmark lowered their price target on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, February 21st. KeyCorp lowered their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, UBS Group began coverage on shares of indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price target for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. American Trust grew its holdings in shares of indie Semiconductor by 20.3% in the fourth quarter. American Trust now owns 34,845 shares of the company’s stock worth $141,000 after purchasing an additional 5,869 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of indie Semiconductor by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company’s stock worth $1,069,000 after purchasing an additional 32,979 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of indie Semiconductor in the fourth quarter worth about $386,000. ProShare Advisors LLC grew its holdings in shares of indie Semiconductor by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock worth $187,000 after purchasing an additional 15,202 shares during the last quarter. Finally, Meros Investment Management LP grew its holdings in shares of indie Semiconductor by 43.4% in the fourth quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock worth $5,026,000 after purchasing an additional 375,624 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

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.