Insider Selling: indie Semiconductor (NASDAQ:INDI) CEO Sells $562,907.20 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 126,496 shares of indie Semiconductor stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $4.45, for a total transaction of $562,907.20. Following the sale, the chief executive officer directly owned 424,617 shares in the company, valued at $1,889,545.65. This trade represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, June 15th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $4.19, for a total transaction of $209,500.00.
• 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.

indie Semiconductor Price Performance

Shares of NASDAQ INDI traded up $0.30 during midday trading on Monday, reaching $4.63. 6,352,673 shares of the company were exchanged, compared to its average volume of 5,117,980. The stock’s 50-day moving average price is $4.29 and its 200-day moving average price is $3.77. The stock has a market cap of $1.05 billion, a P/E ratio of -6.09 and a beta of 2.75. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. indie Semiconductor, Inc. has a one year low of $2.32 and a one year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $55.46 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. On average, sell-side analysts anticipate that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on INDI shares. TD Cowen initiated coverage on shares of indie Semiconductor in a research report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price on the stock. UBS Group raised their price target 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. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.58.

Institutional Trading of indie Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. increased its position in shares of indie Semiconductor by 7,163.7% during the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after buying an additional 8,095 shares during the period. Evergreen Capital Management LLC bought a new stake in indie Semiconductor during the second quarter valued at $37,000. Principal Financial Group Inc. acquired a new stake in indie Semiconductor during the 1st quarter worth about $35,000. Caitong International Asset Management Co. Ltd raised its position in shares of indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after acquiring an additional 10,999 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of indie Semiconductor in the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.