indie Semiconductor, Inc. (NASDAQ:INDI) COO Sells $10,056.40 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 1,622 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $6.20, for a total transaction of $10,056.40. Following the completion of the transaction, the chief operating officer now directly owns 37,860 shares of the company’s stock, valued at $234,732. The sale 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 Tuesday, May 21st, Michael Wittmann sold 1,561 shares of indie Semiconductor stock. The stock was sold at an average price of $6.30, for a total transaction of $9,834.30.
• On Monday, April 22nd, Michael Wittmann sold 1,832 shares of indie Semiconductor stock. The stock was sold at an average price of $5.19, for a total transaction of $9,508.08.

indie Semiconductor Price Performance

NASDAQ INDI opened at $6.34 on Thursday. The company has a quick ratio of 1.49, a current ratio of 1.74 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average price is $6.34 and its two-hundred day moving average price is $6.76. indie Semiconductor, Inc. has a 1 year low of $4.67 and a 1 year high of $9.85.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.13). indie Semiconductor had a negative net margin of 32.12% and a negative return on equity of 21.08%. The company had revenue of $52.35 million during the quarter, compared to analyst estimates of $56.30 million. Equities research analysts expect that indie Semiconductor, Inc. will post -0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INDI. Deutsche Bank Aktiengesellschaft lowered their price target on shares of indie Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, May 10th. B. Riley reiterated a “buy” rating and set a $13.50 price target (down previously from $14.50) on shares of indie Semiconductor in a research report on Friday, May 10th. Finally, KeyCorp lowered their price target on shares of indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $12.64.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of INDI. Bamco Inc. NY increased its holdings in shares of indie Semiconductor by 88.9% in the third quarter. Bamco Inc. NY now owns 11,038,885 shares of the company’s stock valued at $69,545,000 after purchasing an additional 5,193,775 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of indie Semiconductor by 63.3% in the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after acquiring an additional 5,115,393 shares in the last quarter. Intrinsic Edge Capital Management LLC grew its stake in indie Semiconductor by 132.5% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,893,484 shares of the company’s stock worth $23,466,000 after buying an additional 1,648,818 shares in the last quarter. UBS Group AG grew its stake in indie Semiconductor by 4,346.7% during the fourth quarter. UBS Group AG now owns 1,484,697 shares of the company’s stock worth $12,041,000 after buying an additional 1,451,308 shares in the last quarter. Finally, Primecap Management Co. CA grew its stake in indie Semiconductor by 39.0% during the third quarter. Primecap Management Co. CA now owns 4,193,300 shares of the company’s stock worth $26,418,000 after buying an additional 1,175,600 shares in the last quarter. 67.73% of the stock is currently 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.