indie Semiconductor, Inc. (NASDAQ:INDI) COO Sells $16,496.48 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 4,532 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $3.64, for a total value of $16,496.48. Following the transaction, the chief operating officer owned 109,630 shares of the company's stock, valued at approximately $399,053.20. The trade was a 3.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

indie Semiconductor Stock Up 1.2%

Shares of INDI traded up $0.05 during mid-day trading on Friday, hitting $3.75. The company's stock had a trading volume of 1,852,029 shares, compared to its average volume of 3,858,866. The company has a current ratio of 5.30, a quick ratio of 4.64 and a debt-to-equity ratio of 0.85. The company's 50-day moving average is $2.85 and its 200-day moving average is $3.10. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $7.45. The firm has a market capitalization of $795.85 million, a price-to-earnings ratio of -4.99 and a beta of 2.20.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative return on equity of 27.25% and a negative net margin of 62.64%. The company had revenue of $54.08 million during the quarter, compared to analyst estimates of $54.94 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. indie Semiconductor's revenue was up 3.2% on a year-over-year basis. On average, equities research analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Benchmark restated a "buy" rating and issued a $8.00 target price (up from $6.00) on shares of indie Semiconductor in a research note on Wednesday, June 25th. Craig Hallum lowered their price target on indie Semiconductor from $8.00 to $6.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. B. Riley restated a "buy" rating on shares of indie Semiconductor in a report on Thursday, April 24th. Finally, KeyCorp decreased their target price on indie Semiconductor from $7.00 to $6.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $6.08.

Institutional Investors Weigh In On indie Semiconductor

A number of institutional investors have recently added to or reduced their stakes in INDI. Primecap Management Co. CA raised its holdings in indie Semiconductor by 8.9% in the first quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock worth $58,249,000 after purchasing an additional 2,335,620 shares in the last quarter. Bamco Inc. NY grew its position in shares of indie Semiconductor by 30.6% in the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock worth $80,602,000 after buying an additional 4,661,220 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of indie Semiconductor by 60.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock worth $70,366,000 after buying an additional 6,517,978 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of indie Semiconductor by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 12,805,999 shares of the company's stock worth $26,060,000 after acquiring an additional 220,737 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in indie Semiconductor by 23.1% during the first quarter. Harbor Capital Advisors Inc. now owns 4,102,127 shares of the company's stock valued at $8,348,000 after acquiring an additional 768,907 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

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.