Michael Wittmann Sells 13,725 Shares of indie Semiconductor, Inc. (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 13,725 shares of indie Semiconductor stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $2.59, for a total transaction of $35,547.75. Following the completion of the sale, the chief operating officer now directly owns 101,662 shares in the company, valued at $263,304.58. This represents a 11.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 2nd, Michael Wittmann sold 13,725 shares of indie Semiconductor stock. The stock was sold at an average price of $2.59, for a total value of $35,547.75.
• 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 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.

indie Semiconductor Stock Up 4.9%

Shares of NASDAQ INDI traded up $0.14 during mid-day trading on Friday, hitting $2.88. The company had a trading volume of 1,885,900 shares, compared to its average volume of 3,816,809. The company has a market capitalization of $610.98 million, a PE ratio of -3.78 and a beta of 2.12. The business's 50-day simple moving average is $2.22 and its 200 day simple moving average is $3.27. indie Semiconductor, Inc. has a 1-year low of $1.53 and a 1-year high of $7.80. 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 - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The company had revenue of $54.08 million for the quarter, compared to analyst estimates of $54.94 million. During the same quarter last year, the company earned ($0.10) EPS. indie Semiconductor's revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Frontier Capital Management Co. LLC grew its stake in shares of indie Semiconductor by 60.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock worth $70,366,000 after purchasing an additional 6,517,978 shares in the last quarter. Bamco Inc. NY lifted its stake in indie Semiconductor by 30.6% during the fourth quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock worth $80,602,000 after purchasing an additional 4,661,220 shares during the last quarter. Elemental Capital Partners LLC acquired a new stake in indie Semiconductor during the fourth quarter worth approximately $14,272,000. Millennium Management LLC boosted its holdings in shares of indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock valued at $7,535,000 after buying an additional 3,037,435 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in shares of indie Semiconductor by 8.9% in the 1st quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock valued at $58,249,000 after buying an additional 2,335,620 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. B. Riley reissued a "buy" rating on shares of indie Semiconductor in a research report on Thursday, April 24th. Benchmark reaffirmed a "buy" rating and issued a $6.00 target price on shares of indie Semiconductor in a research report on Wednesday, May 21st. Craig Hallum dropped their price target on shares of indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Finally, KeyCorp decreased their price objective on shares of indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.75.

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.