indie Semiconductor (NASDAQ:INDI) CEO Sells $209,500.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 50,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $4.19, for a total transaction of $209,500.00. Following the completion of the sale, the chief executive officer directly owned 307,363 shares of the company’s stock, valued at $1,287,850.97. This trade represents a 13.99% 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 Tuesday, June 2nd, Donald Mcclymont sold 9,425 shares of indie Semiconductor stock. The stock was sold at an average price of $5.12, for a total transaction of $48,256.00.
• 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 transaction 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 transaction of $153,000.00.

indie Semiconductor Stock Performance

NASDAQ INDI remained flat at $3.93 during trading on Wednesday. 3,995,478 shares of the company’s stock traded hands, compared to its average volume of 5,865,843. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05. The firm has a market capitalization of $891.73 million, a P/E ratio of -5.17 and a beta of 2.73. The stock has a 50 day simple moving average of $4.06 and a two-hundred day simple moving average of $3.79.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The business had revenue of $55.46 million during the quarter, compared to analyst estimates of $55.09 million. During the same period in the prior year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that indie Semiconductor, Inc. will post -0.52 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on INDI. TD Cowen began coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price objective for the company. Wall Street Zen upgraded shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group increased their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.19.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INDI. Optiver Holding B.V. increased its stake in shares of indie Semiconductor by 7,163.7% in the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after acquiring an additional 8,095 shares in the last quarter. Principal Financial Group Inc. bought a new stake in indie Semiconductor during the 1st quarter valued at about $35,000. Evergreen Capital Management LLC bought a new stake in indie Semiconductor during the 2nd quarter valued at about $37,000. Gainplan LLC bought a new stake in indie Semiconductor during the 4th quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd increased its stake 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 in the last quarter. 67.73% of the stock is currently owned by institutional investors.

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.