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 business’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $3.06, for a total transaction of $153,000.00. Following the completion of the sale, the chief executive officer owned 282,393 shares of the company’s stock, valued at $864,122.58. The trade was a 15.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, March 2nd, Donald Mcclymont sold 90,644 shares of indie Semiconductor stock. The stock was sold at an average price of $3.56, for a total transaction of $322,692.64.
• On Monday, January 5th, Donald Mcclymont sold 82,957 shares of indie Semiconductor stock. The shares were sold at an average price of $3.67, for a total transaction of $304,452.19.

indie Semiconductor Stock Performance

Shares of INDI opened at $3.19 on Monday. The company has a market capitalization of $713.48 million, a PE ratio of -4.37 and a beta of 2.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10. indie Semiconductor, Inc. has a one year low of $1.53 and a one year high of $6.05. The company’s fifty day moving average price is $3.46 and its 200 day moving average price is $3.97.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in INDI. Evergreen Capital Management LLC bought a new stake in shares of indie Semiconductor in the second quarter valued at about $37,000. Gainplan LLC acquired a new stake in indie Semiconductor during the fourth quarter worth about $39,000. Caitong International Asset Management Co. Ltd increased its stake in indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after acquiring an additional 10,999 shares during the period. Jump Financial LLC bought a new position in indie Semiconductor during the second quarter valued at about $39,000. Finally, HBK Sorce Advisory LLC acquired a new position in indie Semiconductor in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.