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 that occurred on Monday, March 10th. The stock was sold at an average price of $2.81, for a total transaction of $30,558.75. Following the completion of the transaction, the chief operating officer now owns 77,887 shares of the company’s stock, valued at $218,862.47. This represents a 12.25 % decrease in their position. The sale was disclosed in a legal filing 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 transaction of $39,353.00.
• 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 transaction of $9,476.52.
• On Thursday, January 2nd, Michael Wittmann sold 3,125 shares of indie Semiconductor stock. The stock was 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 stock was sold at an average price of $4.10, for a total transaction of $75,337.50.

indie Semiconductor Stock Performance

Shares of indie Semiconductor stock opened at $2.58 on Wednesday. The firm’s fifty day simple moving average is $3.86 and its 200-day simple moving average is $3.98. The stock has a market capitalization of $520.94 million, a price-to-earnings ratio of -3.39 and a beta of 1.54. indie Semiconductor, Inc. has a 12 month low of $2.43 and a 12 month high of $7.82. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87.

indie Semiconductor (NASDAQ:INDI) last announced its 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 business had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. As a group, equities analysts forecast that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently modified their holdings of INDI. Creative Planning acquired a new position in shares of indie Semiconductor in the 3rd quarter valued at $75,000. Bouvel Investment Partners LLC increased its stake in indie Semiconductor by 33.2% in the 3rd quarter. Bouvel Investment Partners LLC now owns 186,119 shares of the company’s stock valued at $743,000 after buying an additional 46,400 shares during the period. Advisors Asset Management Inc. increased its stake in indie Semiconductor by 115.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 60,392 shares of the company’s stock valued at $241,000 after buying an additional 32,353 shares during the period. Intech Investment Management LLC acquired a new position in indie Semiconductor in the 3rd quarter valued at $143,000. Finally, Primecap Management Co. CA increased its stake in indie Semiconductor by 61.4% in the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after buying an additional 9,689,326 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

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.