Donald Mcclymont Sells 90,644 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 90,644 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $3.56, for a total value of $322,692.64. Following the completion of the sale, the chief executive officer directly owned 282,393 shares of the company’s stock, valued at $1,005,319.08. The trade was a 24.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, January 5th, Donald Mcclymont sold 82,957 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total transaction of $304,452.19.
• On Monday, December 15th, Donald Mcclymont sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.09, for a total transaction of $409,000.00.
• On Tuesday, December 2nd, Donald Mcclymont sold 13,065 shares of indie Semiconductor stock. The shares were sold at an average price of $3.54, for a total transaction of $46,250.10.

indie Semiconductor Stock Down 7.1%

indie Semiconductor stock traded down $0.26 during midday trading on Monday, hitting $3.40. 2,830,657 shares of the stock were exchanged, compared to its average volume of 3,474,238. indie Semiconductor, Inc. has a 52-week low of $1.53 and a 52-week high of $6.05. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86. The business’s 50-day moving average price is $3.89 and its 200-day moving average price is $4.19. The stock has a market capitalization of $746.74 million, a price-to-earnings ratio of -4.66 and a beta of 2.55.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 28.81%. The firm had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.11 million. During the same quarter last year, the firm earned ($0.07) EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on INDI shares. Wall Street Zen downgraded indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, UBS Group set a $4.25 price target on shares of indie Semiconductor in a research note on Sunday, February 22nd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, indie Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $6.45.

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently modified their holdings of INDI. Elemental Capital Partners LLC bought a new stake in shares of indie Semiconductor during the 3rd quarter valued at $30,979,000. Tudor Investment Corp ET AL purchased a new stake in shares of indie Semiconductor in the third quarter worth about $22,385,000. Bamco Inc. NY boosted its position in shares of indie Semiconductor by 23.5% in the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after acquiring an additional 4,813,397 shares during the period. Frontier Capital Management Co. LLC grew its stake in indie Semiconductor by 29.9% during the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock valued at $63,940,000 after acquiring an additional 4,139,349 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after acquiring an additional 3,037,435 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About indie Semiconductor

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.