indie Semiconductor (NASDAQ:INDI) Shares Down 6.8% on Insider Selling

indie Semiconductor, Inc. (NASDAQ:INDI) shares traded down 6.8% on Tuesday after an insider sold shares in the company. The company traded as low as $2.58 and last traded at $2.56. 1,177,026 shares changed hands 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 stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $2.81, for a total value of $30,558.75. Following the completion of the sale, the chief operating officer now directly owns 77,887 shares in the company, valued at $218,862.47. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Wittmann sold 13,570 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total transaction of $39,353.00. Following the transaction, the chief operating officer now owns 67,012 shares in the company, valued at $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 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 sale, the chief executive officer now owns 246,535 shares in the company, valued at approximately $714,951.50. This represents a 21.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

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

indie Semiconductor Trading Down 0.4 %

The stock has a market cap of $518.92 million, a PE ratio of -3.38 and a beta of 1.54. The company’s 50-day moving average price is $3.83 and its 200 day moving average price is $3.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $58.20 million. On average, sell-side analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Trading of indie Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI boosted its stake in indie Semiconductor by 42.7% during the fourth quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock worth $54,000 after buying an additional 4,023 shares during the period. ArrowMark Colorado Holdings LLC purchased a new stake in shares of indie Semiconductor in the 4th quarter valued at approximately $55,000. Regal Investment Advisors LLC lifted its holdings in shares of indie Semiconductor by 39.2% in the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock worth $57,000 after acquiring an additional 3,988 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of indie Semiconductor during the 3rd quarter worth approximately $58,000. Finally, Daiwa Securities Group Inc. increased its holdings in indie Semiconductor by 74.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after purchasing an additional 6,363 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.