indie Semiconductor (NASDAQ:INDI) CEO Donald Mcclymont Sells 13,384 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald McClymont sold 13,384 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $3.53, for a total value of $47,245.52. Following the transaction, the chief executive officer owned 481,026 shares in the company, valued at approximately $1,698,021.78. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, August 31st, Donald McClymont sold 46,928 shares of indie Semiconductor stock. The stock was sold at an average price of $3.72, for a total value of $174,572.16.
• On Thursday, July 2nd, Donald McClymont sold 126,496 shares of indie Semiconductor stock. The shares were sold at an average price of $4.45, for a total value of $562,907.20.
• On Monday, June 15th, Donald McClymont sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $4.19, for a total value of $209,500.00.

indie Semiconductor Stock Down 2.8%

Shares of indie Semiconductor stock opened at $3.47 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05. The stock has a market capitalization of $804.38 million, a price-to-earnings ratio of -4.75 and a beta of 2.78. The company’s 50 day moving average price is $3.90 and its 200-day moving average price is $3.74.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $64.01 million during the quarter, compared to the consensus estimate of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

More indie Semiconductor News

Here are the key news stories impacting indie Semiconductor this week:

• Positive Sentiment: Despite the selling, analysts’ consensus price target of $4.75 remains above the recent trading range. The company’s latest quarterly revenue also rose 24% year over year to $64.01 million, exceeding estimates, while its per-share loss improved from the prior year.
• Neutral Sentiment: Institutional investors own approximately 67.7% of indie Semiconductor, indicating continued participation in its automotive semiconductor opportunity, including chips for electric vehicles, advanced driver-assistance systems and infotainment. However, most analyst ratings remain Hold or Neutral.
• Negative Sentiment: COO Michael Wittmann sold 40,625 shares for approximately $145,844 at an average price of $3.59, reducing his direct holding by 25.95%. This follows additional sales of 17,045 shares on August 31 and 42,468 shares on August 14. Insider Selling: indie Semiconductor COO Sells 40,625 Shares of Stock
• Negative Sentiment: CEO Donald McClymont sold 13,384 shares worth about $47,246, reducing his position by 2.71%. CFO Naixi Wu sold a combined 27,171 shares for roughly $96,305 across September 1–2, cutting her reported holdings by about 16%.
• Negative Sentiment: The concentration of selling by the CEO, CFO and COO may weigh on sentiment, particularly because INDI continues to post significant losses. Analysts expect a full-year loss of approximately $0.53 per share, and the stock remains well below its 52-week high of $6.05.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors have recently bought and sold shares of INDI. Primecap Management Co. CA boosted its position in indie Semiconductor by 3.0% during the 4th quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock valued at $105,105,000 after acquiring an additional 873,940 shares in the last quarter. Bamco Inc. NY raised its position in shares of indie Semiconductor by 0.7% in the 4th quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock worth $76,621,000 after acquiring an additional 148,455 shares in the last quarter. Granahan Investment Management LLC raised its position in shares of indie Semiconductor by 17.8% in the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock worth $65,314,000 after acquiring an additional 3,067,255 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of indie Semiconductor by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock valued at $54,693,000 after purchasing an additional 210,463 shares during the period. Finally, Elemental Capital Partners LLC lifted its stake in shares of indie Semiconductor by 60.0% in the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock valued at $40,715,000 after purchasing an additional 4,741,680 shares during the period. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INDI. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group upped their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Friday, July 17th. TD Cowen raised their price target on indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a research note on Monday, July 13th. Finally, Roth Capital set a $5.00 price target on shares of indie Semiconductor in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.75.

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.