indie Semiconductor (NASDAQ:INDI) CEO Donald Mcclymont Sells 46,928 Shares of Stock

Key Points

• CEO Donald Mcclymont sold 46,928 shares of indie Semiconductor at an average price of $3.72, generating $174,572.16. The sale reduced his ownership by 9.11% to 468,441 shares.
• INDI shares fell $0.16 to $3.55, while the company reported quarterly revenue of $64.01 million—up 24% year over year—and an adjusted loss of $0.05 per share, in line with estimates.
• Analysts have an overall “Hold” rating on the stock, with an average price target of $4.75; ratings include one Buy, two Holds and one Sell.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CEO Donald Mcclymont sold 46,928 shares of the firm's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $3.72, for a total transaction of $174,572.16. Following the transaction, the chief executive officer owned 468,441 shares of the company's stock, valued at approximately $1,742,600.52. This trade represents a 9.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, July 2nd, Donald Mcclymont sold 126,496 shares of indie Semiconductor stock. The stock was sold at an average price of $4.45, for a total transaction of $562,907.20.
• On Monday, June 15th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $4.19, for a total transaction of $209,500.00.

indie Semiconductor Price Performance

INDI stock traded down $0.16 on Tuesday, hitting $3.55. 4,218,385 shares of the company's stock traded hands, compared to its average volume of 5,406,063. The stock has a market cap of $822.93 million, a price-to-earnings ratio of -4.86 and a beta of 2.79. indie Semiconductor, Inc. has a 1-year low of $2.32 and a 1-year high of $6.05. The company has a current ratio of 3.65, a quick ratio of 2.86 and a debt-to-equity ratio of 1.25. The stock has a fifty day moving average of $3.91 and a 200-day moving average of $3.75.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The firm's quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. On average, analysts forecast that indie Semiconductor, Inc. will post -0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

INDI has been the subject of a number of recent analyst reports. Wall Street Zen raised 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 objective on indie Semiconductor from $4.25 to $4.75 and gave the stock a "neutral" rating in a report on Friday, May 8th. Roth Capital set a $5.00 target price on indie Semiconductor in a report on Friday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. Finally, TD Cowen boosted their price objective on indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.75.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. lifted its holdings in indie Semiconductor by 7,163.7% during the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company's stock worth $26,000 after buying an additional 8,095 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in indie Semiconductor during the 2nd quarter worth approximately $37,000. Principal Financial Group Inc. bought a new stake in shares of indie Semiconductor during the first quarter worth $35,000. Caitong International Asset Management Co. Ltd raised its stake 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 purchasing an additional 10,999 shares during the period. Finally, Jump Financial LLC acquired a new stake in indie Semiconductor in the 2nd quarter valued at approximately $39,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.

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