indie Semiconductor (NASDAQ:INDI) CEO Donald Mcclymont Sells 18,420 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 18,420 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $2.99, for a total value of $55,075.80. Following the completion of the transaction, the chief executive officer owned 298,500 shares of the company’s stock, valued at approximately $892,515. This represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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.
• On Monday, March 2nd, Donald Mcclymont sold 90,644 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total transaction of $322,692.64.

indie Semiconductor Stock Performance

indie Semiconductor stock opened at $2.89 on Wednesday. The stock has a market cap of $646.38 million, a P/E ratio of -3.96 and a beta of 2.56. The company has a current ratio of 3.73, a quick ratio of 3.10 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average of $3.28 and a 200-day moving average of $3.93. indie Semiconductor, Inc. has a 52 week low of $1.60 and a 52 week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The company had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $57.11 million. During the same period in the prior year, the business posted ($0.07) EPS. The business’s revenue was up .0% on a year-over-year basis. On average, analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its holdings in indie Semiconductor by 32.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after buying an additional 3,921 shares during the period. Cetera Investment Advisers raised its holdings in indie Semiconductor by 20.5% during the 4th quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock worth $91,000 after buying an additional 4,365 shares during the period. Daiwa Securities Group Inc. raised its holdings in indie Semiconductor by 33.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock worth $68,000 after buying an additional 4,763 shares during the period. Abel Hall LLC raised its stake in indie Semiconductor by 42.3% during the 4th quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock valued at $60,000 after purchasing an additional 5,030 shares during the period. Finally, Verition Fund Management LLC raised its stake in indie Semiconductor by 1.9% during the 4th quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock valued at $948,000 after purchasing an additional 5,055 shares during the period. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

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

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.