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

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

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 shares were sold at an average price of $3.06, for a total transaction of $153,000.00.

indie Semiconductor Price Performance

Shares of NASDAQ INDI remained flat at $3.93 during trading on Wednesday. 3,995,478 shares of the stock were exchanged, compared to its average volume of 5,865,843. The firm’s 50-day moving average price is $4.06 and its 200 day moving average price is $3.79. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The stock has a market capitalization of $891.73 million, a PE ratio of -5.17 and a beta of 2.73. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $55.46 million for the quarter, compared to the consensus estimate of $55.09 million. indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) EPS. As a group, research analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Wall Street Analyst Weigh In

INDI has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. TD Cowen initiated coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.19.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in shares of indie Semiconductor by 32.1% in the third 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 last quarter. Cetera Investment Advisers boosted its holdings in shares of indie Semiconductor by 20.5% in the fourth 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 last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of indie Semiconductor by 33.1% in the second 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 last quarter. Abel Hall LLC boosted its holdings in shares of indie Semiconductor by 42.3% in the fourth quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock worth $60,000 after buying an additional 5,030 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of indie Semiconductor by 1.9% in the fourth quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock worth $948,000 after buying an additional 5,055 shares during the last quarter. 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.