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

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 13,570 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $39,353.00. Following the sale, the chief operating officer now owns 67,012 shares in the company, valued at approximately $194,334.80. This represents a 16.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 stock was 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 stock was sold at an average price of $4.10, for a total value of $75,337.50.

indie Semiconductor Stock Down 6.5 %

INDI stock opened at $2.74 on Tuesday. 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 firm has a market capitalization of $553.25 million, a PE ratio of -3.61 and a beta of 1.54. indie Semiconductor, Inc. has a 1-year low of $2.43 and a 1-year high of $7.82. The business’s 50 day simple moving average is $3.89 and its 200 day simple moving average is $3.99.

indie Semiconductor (NASDAQ:INDI) last issued 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). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The firm had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. As a group, research analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. KeyCorp dropped their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Benchmark decreased their target price on 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 began coverage on indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, indie Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of indie Semiconductor by 10.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,318,300 shares of the company’s stock valued at $5,260,000 after acquiring an additional 120,071 shares during the period. Geode Capital Management LLC lifted its position in shares of indie Semiconductor by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock valued at $15,739,000 after acquiring an additional 276,739 shares during the period. State Street Corp lifted its position in shares of indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock valued at $28,337,000 after acquiring an additional 161,132 shares during the period. Barclays PLC lifted its position in shares of indie Semiconductor by 330.7% during the 3rd quarter. Barclays PLC now owns 256,799 shares of the company’s stock valued at $1,026,000 after acquiring an additional 197,179 shares during the period. Finally, Elemental Capital Partners LLC bought a new stake in shares of indie Semiconductor during the 4th quarter valued at $14,272,000. 67.73% of the stock is owned by institutional investors and hedge funds.

About indie Semiconductor

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.