Donald Mcclymont Sells 90,644 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 90,644 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $3.56, for a total transaction of $322,692.64. Following the transaction, the chief executive officer owned 282,393 shares of the company’s stock, valued at approximately $1,005,319.08. The trade was a 24.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, January 5th, Donald Mcclymont sold 82,957 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total transaction of $304,452.19.
• On Monday, December 15th, Donald Mcclymont sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.09, for a total transaction of $409,000.00.
• On Tuesday, December 2nd, Donald Mcclymont sold 13,065 shares of indie Semiconductor stock. The shares were sold at an average price of $3.54, for a total transaction of $46,250.10.

indie Semiconductor Trading Down 7.1%

INDI traded down $0.26 during trading on Monday, reaching $3.40. 2,830,657 shares of the stock traded hands, compared to its average volume of 3,474,238. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average is $3.89 and its 200 day moving average is $4.19. indie Semiconductor, Inc. has a 12 month low of $1.53 and a 12 month high of $6.05. The stock has a market capitalization of $746.74 million, a PE ratio of -4.66 and a beta of 2.55.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). indie Semiconductor had a negative return on equity of 28.81% and a negative net margin of 66.23%.The company had revenue of $58.01 million for the quarter, compared to the consensus estimate of $57.11 million. During the same period in the previous year, the business earned ($0.07) EPS. The firm’s revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its position in shares of indie Semiconductor by 9.0% during the second quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock worth $142,000 after acquiring an additional 3,300 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in indie Semiconductor by 9.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock valued at $162,000 after purchasing an additional 3,898 shares during the last quarter. CWM LLC increased its holdings in indie Semiconductor by 34.7% during the 2nd quarter. CWM LLC now owns 15,215 shares of the company’s stock worth $54,000 after purchasing an additional 3,916 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of indie Semiconductor by 32.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock worth $66,000 after purchasing an additional 3,921 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of indie Semiconductor by 27.0% in the second quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock worth $71,000 after purchasing an additional 4,207 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INDI has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. UBS Group set a $4.25 price objective on shares of indie Semiconductor in a report on Sunday, February 22nd. Finally, Wall Street Zen downgraded indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.45.

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.