indie Semiconductor (NASDAQ:INDI) CEO Donald Mcclymont Sells 46,928 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 46,928 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $3.72, for a total transaction of $174,572.16. Following the sale, the chief executive officer directly owned 468,441 shares of the company’s stock, valued at approximately $1,742,600.52. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, July 2nd, Donald Mcclymont sold 126,496 shares of indie Semiconductor stock. The stock was 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 stock was sold at an average price of $4.19, for a total value of $209,500.00.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $3.55 on Wednesday. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. The stock’s fifty day simple moving average is $3.91 and its two-hundred day simple moving average is $3.75. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05. The stock has a market cap of $822.93 million, a PE ratio of -4.86 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI) last posted 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 for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned ($0.08) EPS. As a group, analysts forecast that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of indie Semiconductor

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its position in indie Semiconductor by 486.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,071,494 shares of the company’s stock worth $4,811,000 after acquiring an additional 888,933 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of indie Semiconductor during the second quarter worth about $436,000. Madison Asset Management LLC bought a new stake in shares of indie Semiconductor in the second quarter worth about $2,310,000. FNY Investment Advisers LLC bought a new position in indie Semiconductor during the 2nd quarter valued at approximately $449,000. Finally, Moody National Bank Trust Division raised its position in indie Semiconductor by 5.3% during the 2nd quarter. Moody National Bank Trust Division now owns 997,024 shares of the company’s stock valued at $4,477,000 after purchasing an additional 50,364 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INDI has been the subject of a number of research reports. Roth Capital set a $5.00 target price on shares of indie Semiconductor in a research report on Friday, August 7th. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group lifted 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. TD Cowen increased their price target on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.