Insider Selling: indie Semiconductor (NASDAQ:INDI) CEO Sells $155,500.00 in Stock

Key Points

• CEO Donald McClymont sold 50,000 shares of indie Semiconductor at an average price of $3.11, generating $155,500 and reducing his direct holdings by 9.42% to 481,026 shares.
• INDI shares rose 3.6% to $3.13, while the company reported second-quarter revenue of $64.01 million, up 24% year over year, and an adjusted loss of $0.05 per share.
• Analysts maintain a consensus “Hold” rating with a $4.75 price target; institutional investors own 67.73% of the company.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CEO Donald McClymont sold 50,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $3.11, for a total transaction of $155,500.00. Following the sale, the chief executive officer directly owned 481,026 shares of the company's stock, valued at $1,495,990.86. This represents a 9.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, September 2nd, Donald McClymont sold 13,384 shares of indie Semiconductor stock. The shares were sold at an average price of $3.53, for a total value of $47,245.52.
• 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.

indie Semiconductor Stock Up 3.6%

INDI stock traded up $0.11 during midday trading on Thursday, hitting $3.13. The company's stock had a trading volume of 4,302,140 shares, compared to its average volume of 5,364,504. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. indie Semiconductor, Inc. has a twelve month low of $2.32 and a twelve month high of $6.05. The company's fifty day moving average price is $3.74 and its 200 day moving average price is $3.73. The stock has a market capitalization of $725.57 million, a P/E ratio of -4.29 and a beta of 2.78.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). The company had revenue of $64.01 million during the quarter, compared to the consensus estimate of $62.49 million. indie Semiconductor had a negative net margin of 65.18% and a negative return on equity of 32.02%. The company's quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) EPS. As a group, equities research analysts predict that indie Semiconductor, Inc. will post -0.53 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Roth Capital set a $5.00 price target on indie Semiconductor in a research report on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. Finally, TD Cowen boosted their target price on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $4.75.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently added to or reduced their stakes in INDI. Sequoia Financial Advisors LLC bought a new position in indie Semiconductor during the second quarter worth $133,000. Integrated Wealth Concepts LLC acquired a new stake in shares of indie Semiconductor during the 2nd quarter worth about $49,000. Teza Capital Management LLC bought a new stake in shares of indie Semiconductor during the 2nd quarter worth about $436,000. Madison Asset Management LLC acquired a new position in indie Semiconductor in the 2nd quarter valued at about $2,310,000. Finally, FNY Investment Advisers LLC bought a new position in indie Semiconductor in the 2nd quarter valued at about $449,000. Institutional investors and hedge funds own 67.73% of the company's stock.

About indie Semiconductor

indie Semiconductor, Inc develops semiconductor and software solutions for the automotive industry. Its technology is designed to support advanced driver-assistance systems (ADAS), autonomous-driving applications, vehicle connectivity, and in-cabin user experiences.

The company's product portfolio includes radar and lidar components, computer-vision processors, automotive imaging solutions, wireless connectivity products, audio and voice-processing technologies, and power-management devices.

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