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

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 10,875 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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 transaction 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 transaction 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 transaction 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 transaction of $75,337.50.

indie Semiconductor Price Performance

Shares of INDI opened at $2.58 on Wednesday. indie Semiconductor, Inc. has a 1-year low of $2.43 and a 1-year high of $7.82. The stock has a market cap of $520.94 million, a PE ratio of -3.39 and a beta of 1.54. The firm has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $3.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INDI. Primecap Management Co. CA boosted its stake in shares of indie Semiconductor by 61.4% in the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after purchasing an additional 9,689,326 shares during the period. Frontier Capital Management Co. LLC boosted 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 purchasing an additional 6,517,978 shares during the period. Artemis Investment Management LLP boosted its stake in shares of indie Semiconductor by 482.7% in the fourth quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock valued at $26,486,000 after purchasing an additional 5,417,296 shares during the period. Bamco Inc. NY boosted 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 purchasing an additional 4,661,220 shares during the period. Finally, Elemental Capital Partners LLC purchased a new position in shares of indie Semiconductor in the fourth quarter valued at approximately $14,272,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INDI shares. KeyCorp cut their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Benchmark dropped their price target on shares of 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, UBS Group assumed coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.50.

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.