indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann Sells 10,875 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 10,875 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the sale, the chief operating officer now owns 77,887 shares of the company’s stock, valued at approximately $218,862.47. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 stock was 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 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 Trading Down 6.5 %

Shares of indie Semiconductor stock opened at $2.74 on Tuesday. The company has a market capitalization of $553.25 million, a P/E ratio of -3.61 and a beta of 1.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The company has a fifty day moving average of $3.89 and a 200 day moving average of $3.99. indie Semiconductor, Inc. has a fifty-two week low of $2.43 and a fifty-two week high of $7.82.

indie Semiconductor (NASDAQ:INDI) last issued its 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 firm had revenue of $58.01 million during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INDI. National Bank of Canada FI boosted 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 during the last quarter. ArrowMark Colorado Holdings LLC bought a new position in shares of indie Semiconductor during the 4th quarter valued at about $55,000. Regal Investment Advisors LLC boosted its holdings in shares of indie Semiconductor by 39.2% during the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock valued at $57,000 after purchasing an additional 3,988 shares during the last quarter. Virtu Financial LLC bought a new position in shares of indie Semiconductor during the 3rd quarter valued at about $58,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of indie Semiconductor by 74.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after purchasing an additional 6,363 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on INDI shares. Benchmark reduced their price objective on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, February 21st. KeyCorp reduced their price objective 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. Finally, 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock 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.