indie Semiconductor (NASDAQ:INDI) CEO Sells $47,245.52 in Stock

Key Points

• CEO Donald McClymont sold 13,384 shares of indie Semiconductor at an average $3.53, generating $47,245.52 and reducing his direct ownership by 2.71% to 481,026 shares. He has also sold more than 223,000 shares in several transactions since June.
• INDI shares fell to $3.47, with the stock trading below its 50-day moving average of $3.90 but above its 12-month low of $2.32. The company has a market capitalization of about $804 million and a negative price-to-earnings ratio.
• Despite reporting 24% year-over-year revenue growth to $64.01 million and meeting quarterly EPS expectations, indie remains unprofitable. Analysts hold a consensus “Hold” rating with an average price target of $4.75, while institutional investors own 67.73% of the stock.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CEO Donald McClymont sold 13,384 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $3.53, for a total transaction of $47,245.52. Following the completion of the sale, the chief executive officer directly owned 481,026 shares in the company, valued at approximately $1,698,021.78. The trade was a 2.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, August 31st, Donald McClymont sold 46,928 shares of indie Semiconductor stock. The shares were sold at an average price of $3.72, for a total transaction of $174,572.16.
• 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 shares were sold at an average price of $4.19, for a total transaction of $209,500.00.

indie Semiconductor Price Performance

Shares of INDI stock traded down $0.10 during trading hours on Thursday, hitting $3.47. The company's stock had a trading volume of 3,273,209 shares, compared to its average volume of 7,549,274. 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 business has a fifty day moving average of $3.90 and a 200-day moving average of $3.74. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The stock has a market cap of $804.38 million, a price-to-earnings ratio of -4.75 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 return on equity of 32.02% and a negative net margin of 65.18%.indie Semiconductor's revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. As a group, equities research analysts anticipate that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INDI. Optiver Holding B.V. boosted its position 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 acquiring an additional 8,095 shares during the last quarter. Principal Financial Group Inc. purchased a new position in indie Semiconductor during the first quarter worth approximately $35,000. Evergreen Capital Management LLC acquired a new position in shares of indie Semiconductor in the 2nd quarter valued at $37,000. Caitong International Asset Management Co. Ltd boosted 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 purchasing an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of indie Semiconductor during the 2nd quarter valued at $39,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on INDI shares. UBS Group increased 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 reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. Roth Capital set a $5.00 price target on shares of indie Semiconductor in a report on Friday, August 7th. TD Cowen boosted their price objective on shares of indie Semiconductor from $4.00 to $4.50 and gave the company a "hold" rating in a research report on Monday, July 13th. Finally, Wall Street Zen raised shares of indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $4.75.

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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