Michael Wittmann Sells 4,532 Shares of indie Semiconductor, Inc. (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) COO Michael Wittmann sold 4,532 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $3.64, for a total transaction of $16,496.48. Following the completion of the sale, the chief operating officer owned 109,630 shares in the company, valued at approximately $399,053.20. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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.
• 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 Trading Up 1.2%

Shares of NASDAQ INDI traded up $0.05 during midday trading on Friday, reaching $3.75. The stock had a trading volume of 1,852,029 shares, compared to its average volume of 3,870,156. The firm has a market cap of $795.85 million, a price-to-earnings ratio of -4.99 and a beta of 2.20. indie Semiconductor, Inc. has a twelve month low of $1.53 and a twelve month high of $7.45. The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.64 and a current ratio of 5.30. The company's 50 day moving average price is $2.85 and its 200 day moving average price is $3.09.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). indie Semiconductor had a negative net margin of 62.64% and a negative return on equity of 27.25%. The firm had revenue of $54.08 million for the quarter, compared to the consensus estimate of $54.94 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The company's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of INDI. Frontier Capital Management Co. LLC lifted its position in shares of indie Semiconductor by 60.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company's stock valued at $70,366,000 after acquiring an additional 6,517,978 shares during the period. Bamco Inc. NY lifted its position in shares of indie Semiconductor by 30.6% during the 4th quarter. Bamco Inc. NY now owns 19,901,826 shares of the company's stock valued at $80,602,000 after acquiring an additional 4,661,220 shares during the period. Millennium Management LLC lifted its position in shares of indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock valued at $7,535,000 after acquiring an additional 3,037,435 shares during the period. Primecap Management Co. CA lifted its position in shares of indie Semiconductor by 8.9% during the 1st quarter. Primecap Management Co. CA now owns 28,623,386 shares of the company's stock valued at $58,249,000 after acquiring an additional 2,335,620 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in shares of indie Semiconductor during the 4th quarter valued at $6,040,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

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

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.