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

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 13,570 shares of the business’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 completion of the transaction, the chief operating officer now owns 67,012 shares of the company’s stock, valued at $194,334.80. This represents a 16.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were 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 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 Stock Performance

indie Semiconductor stock traded down $0.19 during midday trading on Monday, hitting $2.74. The stock had a trading volume of 3,668,021 shares, compared to its average volume of 4,165,887. The firm’s fifty day moving average is $3.89 and its two-hundred day moving average is $3.99. 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 52-week low of $2.43 and a 52-week 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.

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

Analysts Set New Price Targets

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

Institutional Trading of indie Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 120,071 shares during the period. Geode Capital Management LLC raised its stake in 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 purchasing an additional 276,739 shares during the period. State Street Corp raised its stake in 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 purchasing an additional 161,132 shares during the period. Barclays PLC raised its stake in 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 purchasing an additional 197,179 shares during the period. Finally, Elemental Capital Partners LLC bought a new stake in indie Semiconductor during the 4th quarter valued at approximately $14,272,000. Institutional investors own 67.73% of the company’s stock.

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.