indie Semiconductor (NASDAQ:INDI) CEO Sells 13,384 Shares

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald McClymont sold 13,384 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $3.53, for a total value of $47,245.52. Following the sale, the chief executive officer directly owned 481,026 shares of the company’s stock, valued at approximately $1,698,021.78. This trade represents a 2.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, August 31st, Donald McClymont sold 46,928 shares of indie Semiconductor stock. The stock was sold at an average price of $3.72, for a total value of $174,572.16.
• On Thursday, July 2nd, Donald McClymont sold 126,496 shares of indie Semiconductor stock. The shares were 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 Trading Down 2.8%

INDI traded down $0.10 on Thursday, reaching $3.47. 3,273,209 shares of the company’s stock were exchanged, compared to its average volume of 7,549,274. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The company’s 50 day moving average is $3.90 and its 200-day moving average is $3.74. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The company has a market cap of $804.38 million, a price-to-earnings ratio of -4.75 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The firm had revenue of $64.01 million for the quarter, compared to analysts’ expectations of $62.49 million. During the same period in the previous year, the company posted ($0.08) earnings per share. indie Semiconductor’s revenue was up 24.0% compared to the same quarter last year. Equities analysts predict that indie Semiconductor, Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On indie Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in shares of indie Semiconductor by 486.9% during the second 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 position in indie Semiconductor in the second quarter valued at about $436,000. Madison Asset Management LLC purchased a new position in indie Semiconductor in the second quarter valued at about $2,310,000. FNY Investment Advisers LLC acquired a new stake in indie Semiconductor during the 2nd quarter valued at approximately $449,000. Finally, Moody National Bank Trust Division grew its stake 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 in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INDI has been the topic of several recent research reports. UBS Group lifted their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Friday, July 17th. Roth Capital set a $5.00 target price on indie Semiconductor in a research report on Friday, August 7th. Finally, TD Cowen increased their target price on indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.