Michael Wittmann Sells 37,500 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 37,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 94,005 shares of the company’s stock, valued at $351,578.70. This represents a 28.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 value 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 6.0%

Shares of NASDAQ:INDI opened at $4.61 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86. The stock has a fifty day simple moving average of $4.49 and a two-hundred day simple moving average of $4.01. indie Semiconductor, Inc. has a 12-month low of $1.53 and a 12-month high of $6.05. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.15 and a beta of 2.59.

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

Institutional Investors Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in indie Semiconductor by 356.3% during the 2nd 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 last quarter. National Bank of Canada FI grew its holdings in shares of indie Semiconductor by 32.7% in the first quarter. National Bank of Canada FI now owns 17,852 shares of the company’s stock worth $36,000 after acquiring an additional 4,400 shares during the period. Ethic Inc. bought a new stake in shares of indie Semiconductor in the second quarter worth $36,000. Evergreen Capital Management LLC purchased a new stake in indie Semiconductor during the second quarter valued at $37,000. Finally, Hsbc Holdings PLC lifted its holdings in indie Semiconductor by 36.5% in the first quarter. Hsbc Holdings PLC now owns 19,486 shares of the company’s stock valued at $39,000 after acquiring an additional 5,213 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

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

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.