indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann Sells 18,375 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 18,375 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $4.10, for a total transaction of $75,337.50. Following the completion of the transaction, the chief operating officer now directly owns 28,860 shares in the company, valued at $118,326. The trade was a 38.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

indie Semiconductor Price Performance

Shares of INDI opened at $4.34 on Friday. The company has a market cap of $876.32 million, a P/E ratio of -6.48 and a beta of 1.37. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.55. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average price is $4.24 and its 200 day moving average price is $4.69.

Institutional Trading of indie Semiconductor

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in indie Semiconductor during the 3rd quarter worth about $58,000. Xponance Inc. purchased a new stake in shares of indie Semiconductor during the second quarter worth approximately $63,000. Creative Planning purchased a new stake in shares of indie Semiconductor during the third quarter worth approximately $75,000. Algert Global LLC acquired a new stake in indie Semiconductor in the second quarter valued at approximately $97,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in indie Semiconductor in the second quarter worth approximately $105,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INDI. Benchmark decreased their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Roth Mkm decreased their price target on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.92.

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.