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

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 9,425 shares of the stock in a transaction on Tuesday, June 2nd. The stock was 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 owned 307,363 shares in the company, valued at $1,573,698.56. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, April 6th, Donald Mcclymont sold 18,420 shares of indie Semiconductor stock. The stock was 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 stock was sold at an average price of $3.06, for a total value of $153,000.00.

indie Semiconductor Trading Down 1.6%

NASDAQ INDI opened at $4.80 on Friday. The stock’s 50-day simple moving average is $3.90 and its two-hundred day simple moving average is $3.75. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -6.32 and a beta of 2.73.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Optiver Holding B.V. increased its holdings 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 buying an additional 8,095 shares during the period. Evergreen Capital Management LLC purchased a new position in indie Semiconductor during the 2nd quarter valued at about $37,000. Principal Financial Group Inc. purchased a new position in indie Semiconductor during the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd increased its holdings 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 valued at $39,000 after purchasing an additional 10,999 shares during the period. Finally, Jump Financial LLC purchased a new position in indie Semiconductor during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

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

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.