indie Semiconductor (NASDAQ:INDI) CEO Sells $153,000.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $3.06, for a total transaction of $153,000.00. Following the sale, the chief executive officer owned 282,393 shares in the company, valued at $864,122.58. This represents a 15.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 2nd, Donald Mcclymont sold 90,644 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total transaction of $322,692.64.
• On Monday, January 5th, Donald Mcclymont sold 82,957 shares of indie Semiconductor stock. The shares were sold at an average price of $3.67, for a total transaction of $304,452.19.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $3.19 on Friday. The stock’s 50-day moving average is $3.46 and its two-hundred day moving average is $3.97. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $6.05. The firm has a market cap of $713.48 million, a price-to-earnings ratio of -4.37 and a beta of 2.55.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $58.01 million during the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. Analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Institutional Trading of indie Semiconductor

Several hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its holdings in shares of indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after buying an additional 10,999 shares during the period. Virtu Financial LLC acquired a new position in indie Semiconductor during the fourth quarter worth $178,000. Invesco Ltd. raised its position in indie Semiconductor by 20.9% in the fourth quarter. Invesco Ltd. now owns 390,962 shares of the company’s stock worth $1,380,000 after acquiring an additional 67,534 shares in the last quarter. VARCOV Co. purchased a new position in indie Semiconductor in the fourth quarter worth $556,000. Finally, Voloridge Investment Management LLC acquired a new stake in indie Semiconductor in the fourth quarter valued at $2,121,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.