indie Semiconductor (NASDAQ:INDI) COO Sells $140,250.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 37,500 shares of indie Semiconductor stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $3.74, for a total transaction of $140,250.00. Following the sale, the chief operating officer directly owned 94,005 shares of the company’s stock, valued at $351,578.70. This trade represents a 28.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, September 10th, Michael Wittmann sold 20,908 shares of indie Semiconductor stock. The stock was sold at an average price of $3.95, for a total transaction of $82,586.60.
• On Monday, September 8th, Michael Wittmann sold 12,020 shares of indie Semiconductor stock. The stock was sold at an average price of $4.22, for a total value of $50,724.40.

indie Semiconductor Stock Up 13.6%

NASDAQ INDI traded up $0.52 on Wednesday, reaching $4.35. The stock had a trading volume of 6,448,713 shares, compared to its average volume of 4,154,046. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $6.05. The business has a 50 day moving average price of $4.46 and a 200 day moving average price of $4.00. The company has a market capitalization of $955.39 million, a price-to-earnings ratio of -5.80 and a beta of 2.59.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $53.68 million for the quarter, compared to analyst estimates of $53.98 million. indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. On average, analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on INDI. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Wednesday, October 8th. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Roth Capital reissued a “buy” rating and issued a $8.00 price objective on shares of indie Semiconductor in a research note on Wednesday, October 15th. Finally, UBS Group boosted their target price on indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its stake in shares of indie Semiconductor by 356.3% in the second quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock valued at $34,000 after buying an additional 7,536 shares during the period. National Bank of Canada FI raised its holdings in indie Semiconductor by 32.7% in the 1st quarter. National Bank of Canada FI now owns 17,852 shares of the company’s stock valued at $36,000 after acquiring an additional 4,400 shares in the last quarter. Ethic Inc. bought a new stake in shares of indie Semiconductor in the 2nd quarter worth approximately $36,000. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor during the 2nd quarter worth approximately $37,000. Finally, Hsbc Holdings PLC increased its position in shares of indie Semiconductor by 36.5% during the first quarter. Hsbc Holdings PLC now owns 19,486 shares of the company’s stock valued at $39,000 after purchasing an additional 5,213 shares during the period. Institutional investors own 67.73% of the company’s stock.

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.