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

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 46,928 shares of indie Semiconductor stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $3.72, for a total value of $174,572.16. Following the transaction, the chief executive officer owned 468,441 shares of the company’s stock, valued at $1,742,600.52. This represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 Stock Up 0.6%

INDI opened at $3.57 on Thursday. The firm has a market cap of $827.56 million, a P/E ratio of -4.89 and a beta of 2.78. The business’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $3.75. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The company has a quick ratio of 2.86, a current ratio of 3.65 and a debt-to-equity ratio of 1.25.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The company 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 firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. As a group, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. increased its position 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 in the last quarter. Principal Financial Group Inc. acquired a new position in shares of indie Semiconductor during the 1st quarter valued at $35,000. Evergreen Capital Management LLC purchased a new stake in indie Semiconductor during the 2nd quarter worth $37,000. Caitong International Asset Management Co. Ltd boosted its position 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 during the period. Finally, Jump Financial LLC acquired a new stake in indie Semiconductor in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INDI. TD Cowen raised their price objective on indie Semiconductor from $4.00 to $4.50 and gave the stock a “hold” rating in a report on Monday, July 13th. UBS Group lifted their price target on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Friday, July 17th. Roth Capital set a $5.00 target price on shares of indie Semiconductor in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.