indie Semiconductor (NASDAQ:INDI) CEO Donald Mcclymont Sells 50,000 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $4.19, for a total value of $209,500.00. Following the completion of the sale, the chief executive officer directly owned 307,363 shares of the company’s stock, valued at approximately $1,287,850.97. This trade represents a 13.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Donald Mcclymont also recently made the following trade(s):

• On Tuesday, June 2nd, Donald Mcclymont sold 9,425 shares of indie Semiconductor stock. The shares were sold at an average price of $5.12, for a total transaction of $48,256.00.
• On Monday, April 6th, Donald Mcclymont sold 18,420 shares of indie Semiconductor stock. The shares were sold at an average price of $2.99, for a total transaction of $55,075.80.
• On Wednesday, March 25th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.06, for a total value of $153,000.00.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $3.93 on Thursday. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $891.73 million, a PE ratio of -5.17 and a beta of 2.73. The stock has a fifty day simple moving average of $4.06 and a 200-day simple moving average of $3.79. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The business had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts expect that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. TD Cowen assumed coverage on indie Semiconductor in a research report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price objective on the stock. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, UBS Group raised their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.19.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after purchasing an additional 1,334,145 shares in the last quarter. ArrowMark Colorado Holdings LLC purchased a new position in shares of indie Semiconductor during the 3rd quarter valued at approximately $3,931,000. Handelsbanken Fonder AB boosted its stake in indie Semiconductor by 1,938.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock valued at $6,429,000 after acquiring an additional 1,502,175 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in indie Semiconductor in the third quarter worth about $22,385,000. Finally, Elemental Capital Partners LLC increased its holdings in shares of indie Semiconductor by 3.8% in the 4th quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock valued at $27,897,000 after acquiring an additional 291,111 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.