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 that occurred on Tuesday, September 15th. The shares were sold at an average price of $3.11, for a total transaction of $155,500.00. Following the completion of the transaction, the chief executive officer directly owned 481,026 shares of the company’s stock, valued at $1,495,990.86. This represents a 9.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, September 2nd, Donald McClymont sold 13,384 shares of indie Semiconductor stock. The stock was sold at an average price of $3.53, for a total transaction of $47,245.52.
• 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.

indie Semiconductor Trading Down 1.9%

NASDAQ:INDI opened at $3.07 on Friday. The firm has a market cap of $711.66 million, a PE ratio of -4.21 and a beta of 2.78. The stock has a fifty day moving average price of $3.68 and a 200 day moving average price of $3.72. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $64.01 million during the quarter, compared to analysts’ expectations of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.indie Semiconductor’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. Sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INDI. TD Cowen upped their target price on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. Finally, Roth Capital set a $5.00 price target on shares of indie Semiconductor in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, indie Semiconductor presently has an average rating of “Hold” and an average price target of $4.75.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in INDI. Elemental Capital Partners LLC grew its stake in indie Semiconductor by 60.0% during the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock worth $40,715,000 after buying an additional 4,741,680 shares during the last quarter. Granahan Investment Management LLC increased its position in indie Semiconductor by 17.8% during the first quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock worth $65,314,000 after buying an additional 3,067,255 shares during the period. Wasatch Advisors LP lifted its stake in indie Semiconductor by 130.0% in the first quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after buying an additional 2,154,279 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in indie Semiconductor by 117.0% in the fourth quarter. Handelsbanken Fonder AB now owns 3,428,175 shares of the company’s stock valued at $12,101,000 after buying an additional 1,848,489 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of indie Semiconductor in the first quarter valued at approximately $2,722,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc develops semiconductor and software solutions for the automotive industry. Its technology is designed to support advanced driver-assistance systems (ADAS), autonomous-driving applications, vehicle connectivity, and in-cabin user experiences.

The company’s product portfolio includes radar and lidar components, computer-vision processors, automotive imaging solutions, wireless connectivity products, audio and voice-processing technologies, and power-management devices.