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

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 13,570 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the completion of the transaction, the chief operating officer now owns 67,012 shares in the company, valued at approximately $194,334.80. The trade was a 16.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 transaction of $30,558.75.
• 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 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 stock was sold at an average price of $4.10, for a total value of $75,337.50.

indie Semiconductor Trading Down 5.8 %

INDI opened at $2.58 on Wednesday. The firm has a market cap of $520.94 million, a price-to-earnings ratio of -3.39 and a beta of 1.54. 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, Inc. has a 12 month low of $2.43 and a 12 month high of $7.82. The stock has a fifty day moving average price of $3.86 and a 200-day moving average price of $3.98.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company 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%. As a group, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INDI has been the subject of several research reports. KeyCorp lowered their target price on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Benchmark lowered their price objective on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, UBS Group started coverage on shares of indie Semiconductor in a research report on Friday, January 24th. They set a “neutral” rating and a $4.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, indie Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. American Trust raised its position in shares of indie Semiconductor by 20.3% in the 4th quarter. American Trust now owns 34,845 shares of the company’s stock worth $141,000 after acquiring an additional 5,869 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in indie Semiconductor by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company’s stock worth $1,069,000 after buying an additional 32,979 shares during the last quarter. Two Sigma Investments LP acquired a new position in indie Semiconductor during the 4th quarter valued at about $386,000. ProShare Advisors LLC increased its position in indie Semiconductor by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock valued at $187,000 after buying an additional 15,202 shares in the last quarter. Finally, Meros Investment Management LP raised its stake in indie Semiconductor by 43.4% in the fourth quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock valued at $5,026,000 after buying an additional 375,624 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

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.