Donald Mcclymont Sells 126,496 Shares of indie Semiconductor (NASDAQ:INDI) 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 of the company’s stock, valued at approximately $1,889,545.65. This trade represents a 22.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 stock was sold at an average price of $5.12, for a total transaction of $48,256.00.

indie Semiconductor Stock Up 6.9%

INDI traded up $0.30 during midday trading on Monday, hitting $4.63. The company had a trading volume of 6,352,673 shares, compared to its average volume of 5,117,980. The stock’s 50 day moving average price is $4.29 and its 200 day moving average price is $3.77. indie Semiconductor, Inc. has a 52 week low of $2.32 and a 52 week high of $6.05. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -6.09 and a beta of 2.75. The company has a quick ratio of 3.39, a current ratio of 4.11 and a debt-to-equity ratio of 1.15.

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

Wall Street Analysts Forecast Growth

INDI has been the subject of several research reports. UBS Group lifted their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research 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. TD Cowen began coverage on shares of indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.58.

Institutional Trading of indie Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL purchased a new position in indie Semiconductor in the third quarter worth $22,385,000. Elemental Capital Partners LLC lifted its stake in indie Semiconductor by 60.0% during the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company’s stock worth $40,715,000 after purchasing an additional 4,741,680 shares during the last quarter. Granahan Investment Management LLC boosted its holdings in shares of indie Semiconductor by 17.8% in the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company’s stock worth $65,314,000 after purchasing an additional 3,067,255 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock worth $7,535,000 after purchasing an additional 3,037,435 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in shares of indie Semiconductor by 130.0% during the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after purchasing an additional 2,154,279 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.