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

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 13,570 shares of indie Semiconductor stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the sale, the chief operating officer now owns 67,012 shares in the company, valued at approximately $194,334.80. This represents a 16.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 value 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 transaction of $75,337.50.

indie Semiconductor Stock Performance

INDI traded down $0.05 during trading on Friday, hitting $2.34. 8,320,544 shares of the company traded hands, compared to its average volume of 4,233,658. The stock's fifty day moving average is $3.75 and its 200 day moving average is $3.94. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a one year low of $2.29 and a one year high of $7.82. The firm has a market cap of $472.48 million, a P/E ratio of -3.08 and a beta of 1.54.

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indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data 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). indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. The firm had revenue of $58.01 million for the quarter, compared to the consensus estimate of $58.20 million. As a group, equities analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Trading of indie Semiconductor

A number of institutional investors have recently added to or reduced their stakes in INDI. Creative Planning bought a new stake in indie Semiconductor during the third quarter valued at $75,000. Bouvel Investment Partners LLC lifted its holdings in shares of indie Semiconductor by 33.2% in the 3rd quarter. Bouvel Investment Partners LLC now owns 186,119 shares of the company's stock worth $743,000 after acquiring an additional 46,400 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in indie Semiconductor by 115.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,392 shares of the company's stock valued at $241,000 after acquiring an additional 32,353 shares during the period. Intech Investment Management LLC bought a new stake in indie Semiconductor in the 3rd quarter worth $143,000. Finally, Primecap Management Co. CA grew its position in shares of indie Semiconductor by 61.4% in the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company's stock worth $101,619,000 after buying an additional 9,689,326 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INDI. KeyCorp reduced their price target 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 lowered their target price on shares of indie Semiconductor from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Finally, UBS Group assumed coverage on indie Semiconductor in a research note on Friday, January 24th. They set a "neutral" rating and a $4.50 price target for the company. One research 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 company presently has a consensus rating of "Moderate Buy" and a consensus 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.