indie Semiconductor (NASDAQ:INDI) Trading Down 6.8% After Insider Selling

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) traded down 6.8% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $2.58 and last traded at $2.56. 1,177,026 shares were traded during trading, a decline of 71% from the average session volume of 4,099,830 shares. The stock had previously closed at $2.74.

Specifically, COO Michael Wittmann sold 10,875 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $2.81, for a total transaction of $30,558.75. Following the transaction, the chief operating officer now directly owns 77,887 shares of the company’s stock, valued at approximately $218,862.47. The trade was a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Wittmann sold 13,570 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $2.90, for a total transaction of $39,353.00. Following the sale, the chief operating officer now directly owns 67,012 shares of the company’s stock, valued at approximately $194,334.80. The trade was a 16.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other indie Semiconductor news, CEO Donald Mcclymont sold 65,754 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $2.90, for a total value of $190,686.60. Following the completion of the transaction, the chief executive officer now directly owns 246,535 shares of the company’s stock, valued at $714,951.50. This represents a 21.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on INDI shares. UBS Group started coverage on indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price target for the company. Benchmark reduced their target price on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, KeyCorp dropped their price target on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $7.50.

indie Semiconductor Trading Down 7.1 %

The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company has a market cap of $513.88 million, a price-to-earnings ratio of -3.35 and a beta of 1.54. The firm has a 50-day moving average price of $3.89 and a 200 day moving average price of $3.99.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The business had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. As a group, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of INDI. Primecap Management Co. CA grew its holdings in shares of indie Semiconductor by 61.4% during the third quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after purchasing an additional 9,689,326 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in 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 purchasing an additional 6,517,978 shares during the period. Artemis Investment Management LLP grew its stake in indie Semiconductor by 482.7% during the 4th quarter. Artemis Investment Management LLP now owns 6,539,694 shares of the company’s stock worth $26,486,000 after buying an additional 5,417,296 shares during the last quarter. Bamco Inc. NY increased its position in indie Semiconductor by 30.6% in the fourth 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 period. Finally, Elemental Capital Partners LLC acquired a new stake in indie Semiconductor in the fourth quarter worth $14,272,000. Institutional investors and hedge funds 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.