indie Semiconductor (NASDAQ:INDI) CEO Sells $209,500.00 in 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 transaction, the chief executive officer directly owned 307,363 shares in the company, valued at $1,287,850.97. The trade was a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was 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 stock was 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

indie Semiconductor stock opened at $4.25 on Friday. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The company’s 50 day moving average price is $4.12 and its two-hundred day moving average price is $3.80. The stock has a market cap of $965.46 million, a P/E ratio of -5.60 and a beta of 2.73. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The business had revenue of $55.46 million for the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Optiver Holding B.V. boosted its holdings in shares of indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after acquiring an additional 8,095 shares during the period. Principal Financial Group Inc. bought a new stake in shares of indie Semiconductor during the 1st quarter valued at $35,000. Evergreen Capital Management LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter valued at $37,000. Gainplan LLC purchased a new stake in indie Semiconductor during the 4th quarter worth about $39,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in indie Semiconductor by 45,829.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after purchasing an additional 10,999 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen initiated coverage on indie Semiconductor in a research report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. UBS Group lifted their price objective on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.19.

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.