indie Semiconductor, Inc. (NASDAQ:INDI) COO Sells $13,664.97 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 3,531 shares of indie Semiconductor stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $3.87, for a total value of $13,664.97. Following the transaction, the chief operating officer now owns 47,235 shares of the company’s stock, valued at approximately $182,799.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Wittmann also recently made the following trade(s):

• On Wednesday, July 3rd, Michael Wittmann sold 1,729 shares of indie Semiconductor stock. The shares were sold at an average price of $6.13, for a total value of $10,598.77.
• On Friday, June 21st, Michael Wittmann sold 1,622 shares of indie Semiconductor stock. The stock was sold at an average price of $6.20, for a total value of $10,056.40.

indie Semiconductor Price Performance

NASDAQ:INDI opened at $3.51 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.20 and a current ratio of 2.66. The firm has a market cap of $692.94 million, a price-to-earnings ratio of -7.16 and a beta of 1.20. indie Semiconductor, Inc. has a 52 week low of $3.50 and a 52 week high of $8.69. The firm’s 50-day simple moving average is $5.23 and its 200 day simple moving average is $6.01.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The company had revenue of $52.40 million during the quarter, compared to the consensus estimate of $53.61 million. indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.11) earnings per share. As a group, sell-side analysts predict that indie Semiconductor, Inc. will post -0.7 earnings per share for the current year.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its stake in indie Semiconductor by 322.4% in the fourth quarter. New York State Common Retirement Fund now owns 190,186 shares of the company’s stock valued at $1,542,000 after purchasing an additional 145,161 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of indie Semiconductor in the 4th quarter valued at approximately $111,000. Victory Capital Management Inc. lifted its holdings in shares of indie Semiconductor by 38.1% during the 4th quarter. Victory Capital Management Inc. now owns 18,589 shares of the company’s stock worth $151,000 after acquiring an additional 5,131 shares during the period. M&T Bank Corp boosted its position in shares of indie Semiconductor by 40.0% during the 4th quarter. M&T Bank Corp now owns 24,215 shares of the company’s stock worth $196,000 after acquiring an additional 6,914 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in indie Semiconductor by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,061,581 shares of the company’s stock valued at $8,609,000 after acquiring an additional 79,753 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on INDI. Roth Mkm reduced their price objective on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. B. Riley reaffirmed a “buy” rating and set a $13.50 target price (down previously from $14.50) on shares of indie Semiconductor in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, KeyCorp reduced their price objective on indie Semiconductor from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.21.

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.