indie Semiconductor (NASDAQ:INDI) CEO Donald Mcclymont Sells 9,425 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 9,425 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $5.12, for a total value of $48,256.00. Following the completion of the sale, the chief executive officer directly owned 307,363 shares in the company, valued at approximately $1,573,698.56. This represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 value 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 value of $153,000.00.

indie Semiconductor Stock Down 4.3%

Shares of indie Semiconductor stock opened at $4.88 on Thursday. The business’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $3.74. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05. The firm has a market cap of $1.11 billion, a PE ratio of -6.42 and a beta of 2.73. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.indie Semiconductor’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. On average, analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Finally, UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, indie Semiconductor has a consensus rating of “Hold” and an average target price of $6.92.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INDI. Royal Bank of Canada raised its holdings in indie Semiconductor by 309.7% in the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after acquiring an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in indie Semiconductor by 42.4% in 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 acquiring an additional 298,339 shares during the period. Millennium Management LLC raised its holdings in indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after acquiring an additional 3,037,435 shares during the period. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 13,495 shares during the period. Finally, Rhumbline Advisers raised its holdings in indie Semiconductor by 24.3% in the 2nd quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after acquiring an additional 58,473 shares during the period. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Company Profile

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.