indie Semiconductor, Inc. (NASDAQ:INDI) COO Sells $30,558.75 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 10,875 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total value of $30,558.75. Following the completion of the sale, the chief operating officer now 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 filing with the SEC, 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 shares were 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 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 value 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 value of $75,337.50.

indie Semiconductor Price Performance

Shares of INDI opened at $2.57 on Thursday. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a 1 year low of $2.43 and a 1 year high of $7.82. The stock has a market cap of $518.92 million, a P/E ratio of -3.38 and a beta of 1.54. The stock’s 50-day moving average price is $3.83 and its two-hundred day moving average price is $3.97.

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

Hedge Funds Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Regal Investment Advisors LLC boosted its holdings in indie Semiconductor by 39.2% during the fourth quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock worth $57,000 after buying an additional 3,988 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of indie Semiconductor by 42.7% during the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock valued at $54,000 after purchasing an additional 4,023 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of indie Semiconductor by 1.8% during the 4th quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock valued at $968,000 after purchasing an additional 4,156 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of indie Semiconductor by 5.5% during the 4th quarter. Invesco Ltd. now owns 93,328 shares of the company’s stock valued at $378,000 after purchasing an additional 4,879 shares in the last quarter. Finally, American Trust lifted its holdings in shares of indie Semiconductor by 20.3% during the 4th quarter. American Trust now owns 34,845 shares of the company’s stock valued at $141,000 after purchasing an additional 5,869 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.