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 stock was sold at an average price of $4.19, for a total value of $209,500.00. Following the completion of the sale, the chief executive officer directly owned 307,363 shares of the company’s stock, valued at approximately $1,287,850.97. This represents a 13.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

indie Semiconductor Trading Up 8.3%

Shares of indie Semiconductor stock opened at $4.25 on Friday. The firm’s 50 day simple moving average is $4.09 and its two-hundred day simple moving average is $3.79. The firm has a market capitalization of $965.46 million, a price-to-earnings ratio of -5.60 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. The company has a current ratio of 4.11, a quick ratio of 3.39 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) EPS for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $55.46 million during 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 revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. Analysts predict that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in indie Semiconductor by 309.7% in the first quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after purchasing an additional 416,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock valued at $2,040,000 after buying an additional 298,339 shares during the last quarter. Millennium Management LLC raised its stake in shares of indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after buying an additional 3,037,435 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of indie Semiconductor by 5.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock valued at $909,000 after buying an additional 13,495 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of indie Semiconductor by 24.3% in the second quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock worth $1,065,000 after buying an additional 58,473 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INDI has been the topic of a number of research reports. UBS Group increased their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. TD Cowen began coverage on indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price for the company. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Two equities research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.