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

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 126,496 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was 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. The trade was a 22.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Stock Performance

Shares of NASDAQ INDI opened at $4.37 on Thursday. The company has a market capitalization of $991.55 million, a PE ratio of -5.75 and a beta of 2.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. The company’s fifty day moving average price is $4.33 and its 200 day moving average price is $3.78. indie Semiconductor, Inc. has a 1 year low of $2.32 and a 1 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 analysts’ consensus estimates of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company had revenue of $55.46 million during the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current year.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA raised its holdings in shares of indie Semiconductor by 3.0% during the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock valued at $105,105,000 after acquiring an additional 873,940 shares during the last quarter. Bamco Inc. NY increased its position in shares of indie Semiconductor by 0.7% during the fourth quarter. Bamco Inc. NY now owns 21,705,742 shares of the company’s stock worth $76,621,000 after purchasing an additional 148,455 shares in the last quarter. Granahan Investment Management LLC raised its stake in indie Semiconductor by 17.8% in the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock valued at $65,314,000 after purchasing an additional 3,067,255 shares during the last quarter. Vanguard Group Inc. lifted its holdings in indie Semiconductor by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock valued at $54,693,000 after purchasing an additional 210,463 shares in the last quarter. Finally, Elemental Capital Partners LLC lifted its holdings in indie Semiconductor by 60.0% in the 1st quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock valued at $40,715,000 after purchasing an additional 4,741,680 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on INDI shares. Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group boosted their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Friday, May 8th. TD Cowen assumed coverage on indie Semiconductor in a research report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, indie Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $5.58.

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.