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 company’s stock in a transaction 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 of the company’s stock, valued at approximately $194,334.80. This represents a 16.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 Price Performance

indie Semiconductor 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 company 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 12 month low of $2.43 and a 12 month high of $7.82. The stock has a 50-day moving average price of $3.89 and a two-hundred day moving average price of $3.99.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company 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%. Analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA increased its stake in shares of indie Semiconductor by 3.2% in the fourth 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 period. Bamco Inc. NY increased its stake in shares of indie Semiconductor by 30.6% in the fourth 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 period. Frontier Capital Management Co. LLC increased its stake in shares of indie Semiconductor by 60.0% in the fourth 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 period. Vanguard Group Inc. increased its stake in shares of indie Semiconductor by 8.1% in the fourth 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 period. Finally, State Street Corp grew its stake in indie Semiconductor by 2.3% during the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after purchasing an additional 161,132 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on INDI shares. Benchmark dropped 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. UBS Group began coverage on indie Semiconductor in a research report on Friday, January 24th. They issued a “neutral” rating and a $4.50 target price for the company. Finally, KeyCorp dropped their target price on 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 investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

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.