Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) COO Sells $13,031.25 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) COO Michael Wittmann sold 3,125 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.17, for a total value of $13,031.25. Following the completion of the transaction, the chief operating officer now owns 25,735 shares of the company’s stock, valued at $107,314.95. This trade represents a 10.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, January 6th, Michael Wittmann sold 2,012 shares of indie Semiconductor stock. The shares were sold at an average price of $4.71, for a total transaction of $9,476.52.
• On Monday, December 23rd, Michael Wittmann sold 18,375 shares of indie Semiconductor stock. The stock was sold at an average price of $4.10, for a total transaction of $75,337.50.

indie Semiconductor Stock Down 5.9 %

INDI opened at $4.28 on Thursday. The company has a 50 day moving average of $4.37 and a 200 day moving average of $4.55. The company has a current ratio of 2.39, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a 12 month low of $3.16 and a 12 month high of $7.82. The company has a market cap of $864.20 million, a PE ratio of -6.39 and a beta of 1.41.

Hedge Funds Weigh In On indie Semiconductor

Hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA grew its holdings in indie Semiconductor by 61.4% during the 3rd quarter. Primecap Management Co. CA now owns 25,468,445 shares of the company’s stock valued at $101,619,000 after buying an additional 9,689,326 shares in the last quarter. Bamco Inc. NY increased its holdings in indie Semiconductor by 0.6% during the 3rd quarter. Bamco Inc. NY now owns 15,240,606 shares of the company’s stock worth $60,810,000 after acquiring an additional 89,181 shares during the period. State Street Corp increased its holdings in indie Semiconductor by 2.3% during the 3rd quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after acquiring an additional 161,132 shares during the period. Geode Capital Management LLC lifted its stake in indie Semiconductor by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,944,067 shares of the company’s stock worth $15,739,000 after purchasing an additional 276,739 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of indie Semiconductor by 290.6% in the third quarter. Harbor Capital Advisors Inc. now owns 3,195,910 shares of the company’s stock worth $12,752,000 after purchasing an additional 2,377,612 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INDI has been the topic of a number of research reports. Roth Mkm lowered their price target on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Benchmark lowered their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.92.

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.