Donald Mcclymont Sells 126,496 Shares of indie Semiconductor (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDIGet Free Report) CEO Donald Mcclymont sold 126,496 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $4.45, for a total value of $562,907.20. Following the completion of the sale, the chief executive officer directly owned 424,617 shares in the company, valued at approximately $1,889,545.65. The trade was a 22.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 value 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 Down 11.0%

NASDAQ:INDI opened at $4.12 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The firm’s 50-day moving average price is $4.32 and its 200-day moving average price is $3.78. The company has a market capitalization of $934.83 million, a PE ratio of -5.42 and a beta of 2.75. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05.

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

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Analyst Upgrades and Downgrades

INDI has been the topic of several recent research reports. TD Cowen assumed coverage on indie Semiconductor in a research note on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price target on the stock. UBS Group lifted their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Finally, Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.58.

Check Out Our Latest Research Report on indie Semiconductor

Institutional Trading of indie Semiconductor

Institutional investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. raised its stake in shares of indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after purchasing an additional 8,095 shares during the last quarter. Principal Financial Group Inc. bought a new stake in indie Semiconductor in the 1st quarter worth about $35,000. Evergreen Capital Management LLC bought a new stake in indie Semiconductor in the 2nd quarter worth about $37,000. Gainplan LLC purchased a new position in indie Semiconductor in the 4th quarter worth about $39,000. Finally, Caitong International Asset Management Co. Ltd raised its position in 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 worth $39,000 after buying an additional 10,999 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

indie Semiconductor Company Profile

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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.

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